Trending: LG Energy Solution, Stellantis Resume Construction on Canadian EV Battery Factory
July 05 2023 - 10:15PM
Dow Jones News
0145 GMT -- LG Energy Solution is among the most mentioned
companies in the news over the past four hours, according to
Factiva data, after it reached a deal with Stellantis to resume
construction on a joint-venture EV-battery plant in Windsor,
Ontario. The NextStar Energy battery plant plans to launch in 2024
with an annual production capacity exceeding 45 gigawatt hours, the
companies said in a press release early Thursday. The agreement to
resume construction came after the Canadian federal government and
the province of Ontario increased subsidies for the project to 5
billion Canadian dollars ($3.76 billion), according to Reuters. The
companies had stopped work on the Canadian plant in May, demanding
that the Canada "level the playing field" and match support
available from the U.S. government under the Inflation Reduction
Act. Dow Jones & Co. owns Factiva.
(jacques.vanwersch@dowjones.com)
(END) Dow Jones Newswires
July 05, 2023 22:00 ET (02:00 GMT)
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