Stellantis, LG Announce Joint US Battery Factory
Oct. 19, 2021—Stellantis and LG announced a preliminary agreement to break ground on a U.S.-based EV battery plant in 2022.
According to a report from The Detroit News, the two companies are awaiting regulatory approval. If given the OK, construction on the plant would begin sometime in Q2 2022 at a currently unspecified location. Stellantis and LG hope to have the 40-gigawatt-hour plant start production in early 2024.
“Today’s announcement is further proof that we are deploying our aggressive electrification road map and are following through on the commitments we made during our EV Day event in July,” Stellantis CEO Carlos Tavares said in a statement. "Together, we will lead the industry with benchmark efficiencies and deliver electrified vehicles that ignite passion.”
The plant is part of a $35.5 billion investment by Stellantis in its electrification efforts through 2025. The automaker plans to have all-electric versions of each of its models by the end of the decade.