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Stellantis, LG join forces for Li-Ion Battery Production

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By Christoph Hammerschmidt

In North America, where Stellantis is represented by the Dodge, Jeep and Ram Trucks brands, among others, the company has set ambitious goals – by 2030, 40% of Stellantis vehicles sold in the USA are to run on electric motors. The projected facility is scheduled to go into operation in the first quarter of 2024 and will have an annual production capacity of 40 gigawatt hours.

The batteries produced at the facility will be supplied to Stellantis assembly plants throughout the US, Canada, and Mexico for installation in next-generation electric vehicles ranging from plug-in hybrids to full battery electric vehicles that will be sold under the Stellantis family of brands, the company said. “This announcement is further proof that we are deploying our aggressive electrification road map and are following through on the commitments we made in July,” said Carlos Tavares, CEO of Stellantis. “With this, we have now determined the next ‘gigafactory’ coming to the Stellantis portfolio to help us achieve a total minimum of 260 gigawatt hours of capacity by 2030.”

The partnership between LG and Stellantis in electrified vehicles dates back to 2014 when LG Energy Solution (then LG Chem) was selected by Stellantis (then Fiat Chrysler Automobiles) to supply the lithium-ion battery pack system and controls for the Chrysler Pacifica Hybrid, the industry’s first electrified minivan. With this announcement, the two companies look to solidify their partnership further and continue leveraging each other’s strengths.

Stellantis plans to invest more than €30 billion through 2025 in electrification and software development, while targeting to continue to be 30 percent more efficient than the industry with respect to total Capex and R&D spend versus revenues.

The location of the new facility is currently under review. Details will be shared at a later date. The groundbreaking for the facility is expected to take place in the second quarter of 2022. The transaction is subject to agreement on definitive documentation and customary closing conditions, including regulatory approvals.

www.Stellantis.com  

https://www.lgensol.com

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