LG Energy Solution is set to acquire full ownership of NextStar Energy after agreeing with Stellantis to purchase its 49 per cent stake in the Canadian battery manufacturer. The companies described the move as a joint strategic decision, reached in consultation with NextStar Energy’s leadership.
NextStar Energy was founded in 2022 as a joint venture to build Canada’s first commercial‑scale battery plant in Windsor, Ontario. More than CAD $5 billion has already been invested, with the facility employing over 1,300 people and targeting 2,500 as production expands. The company has recently added LFP batteries to the NMC batteries produced to provide for a range of battery needs, including ESS applications.
Under the new structure, LG Energy Solution will use its global battery expertise to broaden NextStar Energy’s customer base, including the growing Energy Storage System (ESS) market. Stellantis will remain a major customer and continue sourcing batteries from the Windsor plant.
Executives from all three companies highlighted the long‑term benefits. David Kim, CEO of LG Energy Solution, said: “LG Energy Solution sees growth opportunities in North America by situating a key production hub in Canada.” Stellantis CEO Antonio Filosa noted: “By enabling LG Energy Solution to fully leverage the Windsor facility’s capacity, we are strengthening its long-term viability…” NextStar Energy CEO Danies Lee added that the new structure “strengthens Canada’s position as a leader in battery manufacturing.”
The transaction remains subject to regulatory approvals.
