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Industry
LG Energy Solution says sole management decision for NextStar driven by strong confidence
LG Energy Solution has completed a battery plant in Windsor, Ontario, and held an opening ceremony on March 5 local time. The company said NextStar Energy is the only battery manufacturing facility in Canada and produces EV batteries and ESS batteries for AI data centres and large power grids. The venture has invested more than 5 trillion won since 2022 and directly employs 1,300 people. LG Energy Solution’s CEO said the sole management decision was driven by strong confidence.
Industry
LG Energy Solution\'s Canada unit NextStar Energy surpasses 1 million cells three months after starting mass production
LG Energy Solution said on Feb. 13 its Canadian production unit NextStar Energy produced its 1 millionth battery cell. The Windsor, Ontario facility began full-scale cell production in November and reached the milestone in three months as output accelerated, the company said. NextStar Energy is producing LFP-based pouch long cells for ESS use and plans to more than double production this year. The plant is a large battery manufacturing facility with a 5 billion Canadian dollar investment and employs more than 1,300 people. LG Energy Solution said it will make NextStar a wholly owned subsidiary.
Industry
LG Energy Solution to buy 49 percent stake in Canada JV Nextstar Energy
LG Energy Solution said on Thursday it will acquire Stellantis\' 49 percent stake in its Canadian joint venture Nextstar Energy, taking full ownership of the facility. The plant has produced batteries for energy storage systems since November. The company plans to double North American production capacity this year and more than triple sales. It will also receive Canadian investment subsidies and U.S.-equivalent production subsidies on its own.