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Stellantis, the parent company of Dodge, Jeep and Chrysler, plans to build an electric vehicle battery factory in the United States
.
Announced on Wednesday, the automaker will also invest $4.
1 billion in a new battery factory in Canada along with South Korea's LG Energy Solutions
.
The Windsor, Ontario plant will be the first of two battery plants planned by the joint venture between Stellantis and LG
.
Construction of the plant is expected to begin later this year and will be operational from the first quarter of 2024
.
As for the second plant, executives revealed at an event announcing the Windsor plant that it would be built somewhere in the United States
.
Stellantis previously announced another joint venture with Samsung SDI
.
They will build a battery factory in North America
.
As you can see, Stellantis has been slower than Ford and GM in embracing EVs, and the company says it aims to sell 5 million EVs by 2030
.
The world's fourth-largest automaker, Stellantis last year announced a sweeping plan to electrify most of its brand lineup, including an electric version of the Dodge Ram 1500 and an electric muscle car as well as multiple Jeeps type
.
As the auto industry slowly turns to electrification, the need to expand battery manufacturing capacity is also growing
.
Globally, battery production is expected to grow from 95.
3GWh in 2020 to 410.
5GWh in 2024, according to data and analytics firm GlobalData
.
Stellantis said its new Windsor plant will achieve a production capacity of 45GWh per year
.
By comparison, Ford said its three new battery plants will achieve an annual capacity of 129GWh
.
General Motors is planning to build four new battery factories in the US (also in cooperation with LG Chem) with a total annual production capacity of 140GWh, while Volkswagen aims to build six battery cell production plants in Europe by 2030, with a total annual production capacity of 100 GWh.
reach 240GWh
.
And Tesla CEO Elon Musk said his company's first battery factory in Berlin, which opened this week, will eventually be able to produce 250GWh
.
