LG Energy Solution, Stellantis, and NextStar Energy today announced that LG Energy Solution will acquire full ownership of NextStar Energy, with Stellantis selling its 49 per cent equity stake to LG Energy Solution.
NextStar Energy was established as a joint venture by the two companies in 2022 to build Canada’s first large-scale battery manufacturing facility in Windsor, Ontario, and will continue building a resilient and competitive foundation for Canada’s battery future.
The ownership transition is a mutually agreed, strategic decision by the joint venture’s two shareholders, LG Energy Solution and Stellantis. The decision was informed by extensive engagement with NextStar Energy’s leadership team to ensure a seamless transition and strengthen the company’s long-term growth and investment outlook.
Under the new ownership structure, NextStar Energy will leverage LG Energy Solution’s technological leadership and global operational expertise to better serve a broader customer base, including the Energy Storage System (ESS) industry, and respond with greater agility to market conditions and demand to pursue future growth opportunities.
Stellantis remains a committed customer and will continue to source battery products from NextStar Energy.
“By enabling LG Energy Solution to fully leverage the Windsor facility’s capacity, we are strengthening its long-term viability while securing the battery supply for our electric vehicles,” said Antonio Filosa, Chief Executive Officer of Stellantis. “This is a smart, strategic step that supports our customers, our Canadian operations, and our global electrification roadmap.”
NextStar Energy’s facility is a cornerstone of Canada’s advanced manufacturing and clean-energy sector, anchoring domestic battery production, strengthening North America’s battery supply chain, and supporting Canada’s long-term industrial competitiveness. More than $5 billion CAD has been invested in the facility to date, and it employs over 1,300 employees, with a long-term target of 2,500 employees as it scales to full production.
NextStar Energy will continue to play a pivotal role in strengthening Canada’s and North America’s battery manufacturing ecosystem by onshoring critical capabilities that meet the evolving needs of the automotive manufacturing sector and other strategic industries. The closing of this transaction is subject to approvals and other conditions.
