LG Energy Solution Acquires NextStar Energy

06 Feb LG Energy Solution Acquires NextStar Energy

(Oilandgaspress) -] LG Energy Solution, Stellantis, and NextStar Energy today announced that LG Energy Solution will acquire full ownership of NextStar Energy, with Stellantis selling its 49 per cent equity stake to LG Energy Solution.

NextStar Energy was established as a joint venture by the two companies in 2022 to build Canada’s first large-scale battery manufacturing facility in Windsor, Ontario, and will continue building a resilient and competitive foundation for Canada’s battery future.

The ownership transition is a mutually agreed, strategic decision by the joint venture’s two shareholders, LG Energy Solution and Stellantis. The decision was informed by extensive engagement with NextStar Energy’s leadership team to ensure a seamless transition and strengthen the company’s long-term growth and investment outlook.

Under the new ownership structure, NextStar Energy will leverage LG Energy Solution’s technological leadership and global operational expertise to better serve a broader customer base, including the Energy Storage System (ESS) industry, and respond with greater agility to market conditions and demand to pursue future growth opportunities.

Stellantis remains a committed customer and will continue to source battery products from NextStar Energy.

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