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Benzinga

Politics

Anusuya Lahiri

Stellantis, LG Energy Solution Eye New EV Battery Plant In Ontario: Bloomberg

Stellantis LG Energy Ontario Tesla Inc. STLA Canada Ford LG Energy Solution Ltd North America NYSE

Stellantis NV (NYSE:STLA) and LG Energy Solution Ltd look to build their new battery plant in Ontario, Canada, Bloomberg reports.
The Canadian government’s incentives for clean-energy businesses served as a key driver in attracting the companies to the country.
Also Read: Stellantis CEO Looks To Catch Up With Tesla In Coming Years, Russia-Ukraine Crisis Could Dampen EV Ambitions Of Tesla, Ford And Others: FT, Stellantis Divulges Its EV Ambitions
Stellantis and LG Energy previously shared their plans to build a battery-cell making factory in North America. The parties intend to begin construction next quarter, with production slated to kick off in early 2024.
Price Action: STLA shares traded lower by 1.74% at $16.13 on the last check Friday.

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