{"id":23862,"date":"2022-06-06T00:03:48","date_gmt":"2022-06-06T04:03:48","guid":{"rendered":"https:\/\/autosector.com\/?p=23862"},"modified":"2022-06-06T00:03:48","modified_gmt":"2022-06-06T04:03:48","slug":"stellantis-lges-battery-jv-nextstar-energy","status":"publish","type":"post","link":"http:\/\/autosector.com\/?p=23862","title":{"rendered":"Stellantis And LGES Battery JV Named NextStar Energy"},"content":{"rendered":"

Stellantis and LG Energy Solution (LGES) announced that their battery gigafactory joint venture in Windsor, Ontario will be named NextStar Energy Inc.<\/p>\n

Let’s recall that the investment of over $5 billion CAD ($4.1 billion USD) in a 45+ GWh battery plant was officially announced in March<\/a>.<\/p>\n

It will be Canada’s first large-scale lithium-ion battery production plant, crucial especially for the electrification of the nearby Stellantis’ Windsor Assembly Plant.<\/p>\n

According to the press release, the two partners have appointed Danies Lee as chief executive officer (CEO). He previously held a series of global and regional sales and marketing roles for the promotion of lithium-ion batteries at LG Chem.<\/p>\n

In a separate announcement, Stellantis revealed that has signed a binding offtake agreement with Controlled Thermal Resources Ltd. (CTR), related to the supply of battery-grade lithium hydroxide for use in Stellantis\u2019 North America electrified vehicle production.<\/p>\n

It potentially means that CTR will supply lithium hydroxide from California to NextStar in Canada, as well as to Stellantis’ other battery JV, with Samsung SDI in Indiana<\/a>.<\/p>\n

The contracted volume is up to 25,000 metric tons of lithium hydroxide annually over the 10-year term. It’s an important step to not only gain access to a steady supply of key materials but also make sure that they are locally produced.<\/p>\n

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“CTR\u2019s Hell\u2019s Kitchen Project in California\u2019s Imperial County will recover lithium from geothermal brines using renewable energy and steam to produce battery-grade lithium products in an integrated, closed-loop process, eliminating the need for evaporation brine ponds, open pit mines and fossil-fueled processing.”<\/p>\n

“CTR will supply Stellantis with up to 25,000 metric tons per year of lithium hydroxide over the 10-year term of the agreement. Stellantis announced in late 2021 a similar supply deal to support its European vehicle production.”<\/p>\n<\/blockquote>\n

Stellantis-LGES joint venture in Canada in brief:<\/strong><\/p>\n