LG Energy Solution, Stellantis, and NextStar Energy have recently declared that LG Energy Solution will acquire full ownership of NextStar Energy, with Stellantis selling its 49% 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.
NextStar Energy’s facility is a cornerstone of Canada’s advanced manufacturing and clean-energy sector.
