WINDSOR, ON — February 6, 2026 — Leads & Copy — LG Energy Solution will acquire full ownership of NextStar Energy, with Stellantis selling its 49 per cent equity stake to LG Energy Solution, according to a joint announcement by LG Energy Solution, Stellantis, and NextStar Energy.
NextStar Energy was established as a joint venture by the two companies in 2022 to build Canada’s first large-scale battery manufacturing facility in Windsor, Ontario. The facility will continue building a resilient and competitive foundation for Canada’s battery future.
The ownership transition is a mutually agreed, strategic decision by LG Energy Solution and Stellantis, informed by engagement with NextStar Energy’s leadership team. This aims to ensure a seamless transition and strengthen the company’s long-term growth and investment outlook.
Under the new ownership structure, NextStar Energy will leverage LG Energy Solution’s technological leadership and global operational expertise to better serve a broader customer base, including the Energy Storage System (ESS) industry. It will also respond with greater agility to market conditions and demand to pursue future growth opportunities.
Stellantis remains a committed customer and will continue to source battery products from NextStar Energy.
The NextStar Energy facility, with more than $5 billion CAD invested to date, is a cornerstone of Canada’s advanced manufacturing and clean-energy sector. It anchors domestic battery production, strengthens North America’s battery supply chain, and supports Canada’s long-term industrial competitiveness. The facility employs over 1,300 employees, with a long-term target of 2,500 as it scales to full production.
NextStar Energy will continue to play a pivotal role in strengthening Canada’s and North America’s battery manufacturing ecosystem by onshoring critical capabilities that meet the evolving needs of the automotive manufacturing sector and other strategic industries.
The closing of this transaction is subject to approvals and other conditions.
David Kim, Chief Executive Officer of LG Energy Solution, said that LG Energy Solution sees growth opportunities in North America by situating a key production hub in Canada. He added that full ownership of NextStar Energy will enable the company to respond swiftly to the growing demand from the ESS market and position it to play a key role in Canada’s EV industry by securing additional North American-based customers.
Antonio Filosa, Chief Executive Officer of Stellantis, stated that by enabling LG Energy Solution to fully leverage the Windsor facility’s capacity, Stellantis is strengthening its long-term viability while securing the battery supply for its electric vehicles. He said this is a smart, strategic step that supports Stellantis customers, its Canadian operations, and its global electrification roadmap.
Danies Lee, Chief Executive Officer of NextStar Energy, said that this new ownership structure strengthens Canada’s position as a leader in battery manufacturing. It provides long-term certainty to continue investing in the Canadian workforce and manufacturing capacity while delivering sustained economic benefits for Canada and Ontario.
LG Energy Solution is the largest battery company in North America with the most diverse manufacturing footprint, spanning multiple customers, use cases, chemistries and formats. Upon the completion of this acquisition, the company will operate four stand-alone facilities (LG Energy Solution Michigan Holland, LG Energy Solution Michigan Lansing, LG Energy Solution Arizona, NextStar Energy) and four joint venture facilities in the region.
LG Energy Solution is strategically rebalancing its portfolio and enhancing operational efficiency as the global battery market expands beyond EV into diverse sectors such as ESS, robotics, Urban Aerial Mobility and ships. The company is reallocating production capacity between EV and Energy Storage Systems to minimize new investments while maximizing the utilization of existing production lines worldwide. This strategic shift aims to increase global ESS production capacity to over 60 GWh this year, with more than 50 GWh of this capacity concentrated in North America.
Source: Stellantis
