Industry News

Stellantis-LG will collectively construct a gigafactory in Canada | Autocar India

Written by Sunny Kumar

Stellantis pushes for 50 lakh annual world EV gross sales by 2030 because it hopes to open the brand new plant by 2024.

Stellantis and LG Power Resolution have introduced a £3.01 billion (over Rs 30,000 crore) funding in a three way partnership to construct a gigafactory in Canada, with an annual capability of 45GWh.

  • Jeep’s share of US market was over 5 % final 12 months
  • Britishvolt can be hoping to open a plant in Quebec
  • Stellantis manufacturers will solely launch EVs from 2025

Stellantis claims the Windsor website (simply throughout the border from Detroit) would be the first large-scale, home battery manufacturing facility in Canada, with a view to supply cells for Stellantis’ North American market, the place manufacturers akin to Chrysler and Jeep are essential to the conglomerate’s success. Final 12 months, Jeep’s share of the US market was simply over 5 %.

50 lakh EV gross sales globally

Stellantis is reporting that the plant will likely be open in 2024 because it pushes for 5 million annual world EV gross sales by 2030. The ambition is for 50 % of Stellantis’ North American market and 100 % of its European market to be EV by the identical date. Manufacturers akin to Alfa Romeo, DS, Lancia and Maserati will launch solely EVs from 2025.

It comes as extra producers push for EV manufacturing in Canada. UK-based Britishvolt is hoping to open a 60GWh Quebec facility in 2026, whereas lithium mining can be being investigated within the nation. Snow Lake Lithium’s 55,000-acre website is anticipated to supply 1,60,000 tonnes of six percent-lithium spodumene a 12 months when it opens in 2024.

“Our three way partnership with LG Power Resolution is yet one more stepping stone to attaining our aggressive electrification roadmap within the area aimed toward hitting 50 % of battery-electric car gross sales within the US and Canada by the top of the last decade,” stated Carlos Tavares, Stellantis CEO.

LG Power Resolution began as a subsidiary of the huge LG Chem conglomerate, South Korea’s largest chemical firm, earlier than being publicly listed in December 2020. It has a historical past of battery manufacturing stretching again to 1999. As of 2021, it had annual gross sales of £11.eight billion (round Rs 11,800 crore), throughout a spread of battery applied sciences, with almost 28,000 staff.

With this announcement, LG’s North American battery capability is 200GWh, sufficient for over 25 lakh vehicles.

About the author

Sunny Kumar