LG Energy Solution takes full ownership of NextStar Energy

6 February 2026, 15:20:02

LG Energy Solution will assume full ownership of NextStar Energy after acquiring Stellantis’ 49 per cent stake in the joint venture, the companies announced today. The move marks a significant realignment in North America’s fast‑expanding battery supply chain and reinforces Canada’s position as a strategic hub for electric‑vehicle and energy‑storage manufacturing.

Founded in 2022 by LG Energy Solution and Stellantis, NextStar Energy is building Canada's first large‑scale battery manufacturing facility in Windsor. The plant has already attracted more than $5 billion CAD in investment and employs over 1,300 people, with plans to scale to 2,500 as production ramps up.

The companies described the ownership transition as a mutually agreed strategic decision informed by extensive discussions with NextStar’s leadership to ensure continuity and long‑term stability. Under the new structure, LG Energy Solution will integrate the facility more deeply into its global operations, leveraging its technology portfolio and manufacturing expertise to serve a broader customer base — including the rapidly growing Energy Storage System (ESS) sector.

Stellantis, meanwhile, emphasized that it remains a committed customer and will continue sourcing batteries from NextStar Energy to support its electrification roadmap.

The Windsor facility is considered a cornerstone of Canada's clean‑energy and advanced‑manufacturing ambitions. By onshoring critical battery capabilities, NextStar Energy strengthens North America’s supply chain resilience and supports the automotive sector’s transition to electric vehicles.

With full ownership, LG Energy Solution plans to rebalance its North American production portfolio, optimizing capacity between EV batteries and ESS products. The company aims to expand global ESS output to more than 60 GWh this year, with over 50 GWh concentrated in North America.

Upon closing, LG Energy Solution will operate four stand‑alone facilities in the region - including the Windsor plant - alongside four joint‑venture sites, giving it the most diverse battery manufacturing footprint in North America.

"Full ownership of NextStar Energy will enable us to respond swiftly to the growing demand from the ESS market and position us to play a key role in Canada’s EV industry."
— David Kim, CEO, LG Energy Solution

"This is a smart, strategic step that supports our customers, our Canadian operations, and our global electrification roadmap."
— Antonio Filosa, CEO, Stellantis

"This new ownership structure strengthens Canada's position as a leader in battery manufacturing and provides long‑term certainty for continued investment."
— Danies Lee, CEO, NextStar Energy

The transaction remains subject to regulatory approvals and customary closing conditions. Once finalized, the shift is expected to accelerate NextStar Energy’s growth trajectory and reinforce Canada’s role in the global battery economy — from EVs to grid‑scale energy storage and emerging mobility sectors.

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