LG Energy Solution said Friday it will acquire the full stake in its joint venture with multinational automaker Stellantis, making the Canadian firm a wholly owned subsidiary. In a regulatory filing, the Korean battery maker said it will acquire Stellantis’ 49 percent stake in NextStar Energy for just $100, effectively gaining full ownership of the joint venture originally established in 2022 in Ontario, Canada. Industry analysts described the deal as highly favorable, noting that Stellantis’ initial investment in the joint venture totaled $980 million, meaning LG Energy Solution secured a fully operational factory at a fraction of the cost. LG Energy Solution plans to use the NextStar Energy facility as a key production hub for energy storage system (ESS) batteries, targeting the rapidly growing North American ESS market. Despite the ownership change, LG and Stellantis will continue their business cooperation, with Stellantis still set to receive electric vehicle (EV) batteries produced at the Canadian plant. “Full ownership of NextStar Energy will enable us to respond swiftly to
