LG Energy Solution to Fully Acquire Joint Venture with Stellantis

LG Energy Solution recently announced the termination of its joint venture partnership with Stellantis and will acquire Stellantis' 49% stake in their joint venture, NextStar Energy, to gain full ownership. According to a regulatory filing disclosed on February 6, this move marks the formal end of the collaboration that began when the two companies jointly established the venture in March 2022. NextStar Energy was originally set up with a 51:49 equity split between LG Energy Solution and Stellantis to produce electric vehicle batteries for the North American market. Following this ownership change, LG Energy Solution will assume full control over the battery project.