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Stellantis has signed a deal with battery maker LG Energy Solution (LGES) for producing battery cells and modules for North America.
The move comes as part of the automaker’s 30 billion euro ($35 billion) electrification plan.
Global automakers are spending billions to accelerate a transition to low-emission mobility and work towards phasing out internal combustion engines.
Stellantis and LGES’s joint venture is set to produce battery cells and modules at a new facility with a yearly capacity of 40-gigawatt hours (GWh), the two companies said on Monday.
No other financial details of the deal were provided.
The plant is set to begin production by the first quarter of 2024. Its location is under review and will be revealed later.
