Stellantis towards electrification in North America. The group led by Carlos Tavares and the Korean LG Energy Solution have entered into a memorandum of understanding for the creation of a joint venture for the production of battery cells and modules for North America. The plant aims to have an annual capacity of 40 gigawatt hours.
In particular, this joint venture will result in the creation of a new plant for the production of Lithium-ion batteries which will help achieve the goal of the group born from the merger between FCA and PSA of bringing sales of electrified vehicles to over 40% of the total in the US by 2030. The batteries produced will be supplied to Stellantis assembly plants in the United States, in Canada and Mexico for installation on next generation electric vehicles, ranging from plug-in hybrids to full electric battery vehicles, sold under the Stellantis brand portfolio.
The location of the new facility is currently under analysis. The laying of the first stone of the structure is scheduled for the second quarter of 2022, while the start of production within the first quarter of 2014.
“Today's announcement is yet another demonstration that we are delivering on our relentless electrification roadmap and delivering on the commitments we made at the EV Day event in July,” he said. Carlos Tavares, CEO of Stellantis -. With this initiative, we have defined the next “gigafactory” of the Stellantis portfolio that will help us reach, at a minimum, a total of 260 gigawatt hours of capacity by 2030. I would like to warmly thank everyone who has taken part in this strategic project. Together, we will lead the industry with efficiency levels that will set industry benchmarks, and deliver electrified vehicles that will excite.”
“Creating a joint venture with Stellantis will be a historic chapter in our long-standing partnership,” he commented Jong Hyun Kim, President and CEO of LG Energy Solution -. Utilizing our collective and individual technical expertise and mass production capability, LGES will position itself as a battery solution provider to potential customers in the region.”
The collaboration between the two companies in the field of electrified cars dates back to 7 years ago, when LG Energy Solution (at the time LG Chem) was selected by Stellantis (at the time Fiat Chrysler Automobiles) to supply the lithium ion battery system and controls for the Chrysler Pacifica Hybrid, the industry's first electrified minivan.
In addition, Stellantis plans to invest more than 30 billion euros by 2025 in electrification and software development, maintaining 30% efficiency above the industry average in the ratio of total R&D capital expenditure to revenues .
