LG Energy Solution (LGES) has announced that it will acquire full ownership of NextStar Energy, following a strategic and mutually agreed decision with Stellantis. As part of the transition, Stellantis will sell its 49 percent equity stake in the battery manufacturing joint venture to LG Energy Solution, marking a significant shift in the ownership structure of Canada’s first large-scale battery production facility.
NextStar Energy was established in 2022 by LG Energy Solution and Stellantis to build and operate a commercial-scale battery manufacturing plant in Windsor, Ontario. The facility plays a critical role in strengthening Canada’s clean-energy and advanced manufacturing ecosystem and anchoring domestic battery production within North America.
According to the companies, the ownership transition was finalized after extensive consultation with NextStar Energy’s leadership team to ensure continuity, operational stability, and a smooth transition. Under the new structure, LG Energy Solution will leverage its global technological expertise and operational scale to expand NextStar Energy’s customer base beyond automotive applications, including the growing Energy Storage System (ESS) market.
Stellantis, while exiting its equity position, will remain a committed customer and continue sourcing batteries from the Windsor facility to support its electric vehicle portfolio. The move is expected to strengthen long-term battery supply security for Stellantis while enabling LG Energy Solution to more flexibly allocate production capacity based on evolving market demand.
To date, more than CAD 5 billion has been invested in the NextStar Energy facility, which currently employs over 1,300 workers. The company aims to expand its workforce to approximately 2,500 employees as production ramps up to full capacity, reinforcing its contribution to high-quality manufacturing jobs in Canada.
Commenting on the development, LG Energy Solution CEO David Kim said full ownership of NextStar Energy will allow the company to respond more swiftly to rising demand from the ESS sector and position itself as a key player in Canada’s electric vehicle industry by serving additional North American customers.
Stellantis CEO Antonio Filosa described the move as a “smart, strategic step” that supports the automaker’s global electrification roadmap while strengthening the long-term viability of the Windsor facility.
NextStar Energy CEO Danies Lee highlighted that the new ownership structure provides long-term certainty for continued investment in Canadian manufacturing capacity and workforce development, further strengthening Canada’s position as a global leader in battery manufacturing.
Upon completion of the transaction—subject to regulatory approvals and customary closing conditions—LG Energy Solution will operate four standalone battery manufacturing facilities and four joint venture plants across North America. As the global battery market expands beyond electric vehicles into sectors such as ESS, robotics, urban aerial mobility, and marine applications, LG Energy Solution continues to rebalance its production portfolio to maximize efficiency and utilization of existing assets.
The acquisition underscores LG Energy Solution’s long-term commitment to North America and its strategy to accelerate the transition toward electrification and clean-energy solutions across multiple industries.
