NextStar Energy is new name of Stellantis-LG Energy Solution battery joint venture
Stellantis and LG Energy Solution has announced the official name of its battery joint venture company.
NextStar Energy Inc. is the new name, according to a news release from Stellantis on Thursday.
Danies Lee has been appointed Chief Executive Officer (CEO) of the new company.
“I am extremely humbled by this appointment and look forward to putting in place the senior leadership team of NextStar Energy who will help me achieve our vision of producing leading-edge lithium-ion battery cells and modules to meet a significant portion of Stellantis’ vehicle production requirements in North America,” said Lee.
NextStar Energy will be Canada’s first large-scale lithium-ion battery production plant.
Stellantis and LG Energy Solution committed to invest over $5 billion to establish automotive battery operations in Windsor, with support from municipal, provincial and federal governments.
The manufacturing facility is targeted to have an annual production capacity in excess of 45 gigawatt hours and will create an estimated 2,500 new jobs in Windsor and the surrounding areas.
Plant construction activities are expected to begin later this year with production operations planned to launch in the first quarter of 2024.
Officials say NextStar Energy will play an important role in the Stellantis Dare Forward 2030 strategic plan, which aims to have more than 50 per cent BEV sales in North America by the end of the decade.
The closing of the battery joint venture company is subject to customary closing conditions, including regulatory approvals.
CTVNews.ca Top Stories
BREAKING Trudeau Liberals' two-month GST holiday bill passes the House, off to the Senate
The federal government's five-page piece of legislation to enact Prime Minister Justin Trudeau's promised two-month tax break on a range of consumer goods over the holidays passed in the House of Commons late Thursday.
Canada Post temporarily laying off striking workers, union says
The union representing Canada Post workers says the Crown corporation has been laying off striking employees as the labour action by more than 55,000 workers approaches the two-week mark.
Montreal shopping mall playing 'Baby Shark' song to prevent unhoused from loitering
A shopping mall and office complex in downtown Montreal is being criticized for using the popular children's song 'Baby Shark' to discourage unhoused people from loitering in its emergency exit stairwells.
Man jumps out of moving roller-coaster after safety belt fails
Terrifying video shows a man jumping out of a moving roller-coaster in Arizona after he says his safety belt failed.
No more ID? Air Canada rolls out facial recognition tech at Vancouver airport
Air Canada is rolling out facial recognition technology at the gate, making it the first Canadian airline to deploy the software in a bid to make the boarding process smoother.
California man who went missing for 25 years found after sister sees his picture in the news
It’s a Thanksgiving miracle for one California family after a man who went missing in 1999 was found 25 years later when his sister saw a photo of him in an online article, authorities said.
Stowaway flew aboard Delta flight from New York to Paris after evading airline checkpoints at JFK
A stowaway evaded multiple airport security checkpoints and flew aboard a Delta Airlines flight from New York to Paris Tuesday evening, authorities said – a shocking breach that raised serious alarm over airport security.
No 'Taylgate' party for Vancouver, with BC Place to be fenced off for Swift shows
Ticketless Taylor Swift fans hoping for a "Taylgate" party in Vancouver are out of luck.
What a Canadian reverend thinks of Switzerland's AI Jesus
As a reverend, Mark Kleiner's day often takes unexpected turns. But when he woke up this morning, he never imagined he'd be talking about an AI-generated Jesus.