LG Energy Solution, Stellantis, and NextStar Energy today announced that LG Energy Solution will acquire full ownership of NextStar Energy, following Stellantis’ decision to sell its 49 percent equity stake to its founding joint venture partner.
Established in 2022 as a joint venture between LG Energy Solution and Stellantis, NextStar Energy was created to build Canada’s first large-scale battery manufacturing facility in Windsor, Ontario. The ownership transition reflects a mutually agreed, strategic decision by both shareholders, undertaken in close consultation with NextStar Energy’s leadership team to ensure a seamless transition and reinforce the company’s long-term growth and investment outlook.
A Major Investment Anchoring Canada’s Battery Future
To date, more than CAD $5 billion has been invested in the Windsor facility. The site currently employs over 1,300 people, with a long-term target of 2,500 employees as operations scale to full production capacity.
The facility serves as a cornerstone of Canada’s advanced manufacturing and clean energy sector, strengthening North America’s battery supply chain and enhancing Canada’s long-term industrial competitiveness.
Strengthening Growth Under Sole LG Energy Solution Ownership
Under the new ownership structure, NextStar Energy will leverage LG Energy Solution’s technological leadership and global operational expertise to:
- Respond more swiftly to evolving market conditions.
- Serve a broader customer base, including the Energy Storage System (ESS) industry.
- Pursue future growth opportunities across North America.
Stellantis will remain a committed customer and continue sourcing battery products from NextStar Energy to support its global electrification strategy.
Executive Quotes
David Kim, Chief Executive Officer of LG Energy Solution:
“We see significant growth opportunities in North America by positioning a key production hub in Canada. Full ownership of NextStar Energy will allow us to respond swiftly to growing ESS demand and play a central role in Canada’s EV industry by securing additional North American-based customers.”
Antonio Filosa, Chief Executive Officer of Stellantis:
“By enabling LG Energy Solution to fully leverage the Windsor facility’s capacity, we are strengthening its long-term viability while securing battery supply for our electric vehicles. This is a smart, strategic move that supports our customers, our Canadian operations, and our global electrification roadmap.”
Danies Lee, Chief Executive Officer of NextStar Energy:
“This new ownership structure strengthens Canada’s position as a leader in battery manufacturing. It provides long-term certainty to continue investing in our Canadian workforce and manufacturing capacity while delivering sustained economic benefits for Canada and Ontario.”
Expanding North American Footprint
LG Energy Solution is the largest battery manufacturer in North America, with one of the most diverse production footprints across customers, applications, chemistries, and formats. Upon completion of the acquisition, the company will operate four stand-alone facilities and four joint venture facilities in the region.
As the global battery market expands beyond electric vehicles into sectors such as ESS, robotics, Urban Aerial Mobility, and maritime applications, LG Energy Solution is strategically rebalancing its portfolio to enhance operational efficiency. The company aims to increase global ESS production capacity to over 60 GWh this year, with more than 50 GWh concentrated in North America.
The transaction remains subject to regulatory approvals and customary closing conditions.
