Stellantis, the worldwide automotive giant, is considering selling its ownership stake in a major electric vehicle battery plant in Canada. However, the company remains committed to advancing electrification efforts despite taking a substantial hit of 22 billion Euros due to scaling back its ambitious electric vehicle plans.
In a statement, CEO Antonio Filosa emphasized the company’s ongoing transformation to prioritize customer preferences. Stellantis has announced its intention to divest its 49% share in NextStar Energy, a joint venture with LG Energy Solution, responsible for constructing a $5 billion battery plant in Windsor, Ontario.
Although divesting from the battery plant, Stellantis is retaining hundreds of engineers in Windsor to focus on electric vehicle and battery technology research. This decision underscores the company’s dedication to low-emission technology, particularly in the face of uncertainties surrounding the automotive sector’s future in Canada.
In 2022, Stellantis had pledged a $3.6 billion investment in its Ontario facilities to transition towards electric vehicle production, with additional financial support from federal and provincial governments. The investment aimed to enhance operations at the Windsor and Brampton assembly plants, along with establishing a cutting-edge Battery Pack Testing Facility at the Automotive Research and Development Centre (ARDC).
Despite recent changes, Stellantis continues to expand its research team at the ARDC, with no impact on current jobs. The company’s battery research facility in Windsor is progressing and will be a leading-edge technology hub for developing advanced battery components for various types of electric vehicles.
Moreover, Stellantis maintains a diverse range of powertrains in its vehicle lineup, including the Windsor-manufactured Dodge Charger available in both traditional gas-powered and fully electric models. Additionally, Stellantis is actively recruiting for over 20 new sales and marketing positions in Canada, signaling a significant growth phase for the company in the country.