Article

LG Energy Solution will acquire Stellantis's 49% stake in the Canada-based battery joint venture, NextStar Energy, for $100 on June 30. LG aims to enhance its service capabilities to a broader customer base, including the energy storage sector.

The companies have invested over C$5 billion (USD$3.7 billion) in NextStar since its inception in 2022. Stellantis's decision follows a strategic business reset, taking a €22.2 billion (USD$26 billion) charge to adjust its EV plans amid declining demand.