Published by Global Banking & Finance Review®
Posted on February 6, 2026
1 min readLast updated: February 6, 2026
Add as preferred source on GoogleLG Energy Solution will acquire Stellantis' 49% stake in their Canadian battery joint venture for $100, amid changing EV market dynamics.
SEOUL, Feb 6 (Reuters) - South Korea's LG Energy Solution said on Friday that it plans to buy all of the 49% stake held by Stellantis in their battery joint venture in Canada for a nominal amount of $100.
The move comes as some automakers are pulling back from electric vehicles in response to the policies of the administration of U.S. President Donald Trump and due to fading demand.
In 2022, Stellantis and LG had announced a major investment in the joint venture, as part of the carmaker's ambitious electrification strategy. But Chrysler parent Stellantis, like other automakers, have been retreating from their electric vehicle ambitions.
(Reporting by Heejin Kim, Hyunjoo JinEditing by Ed Davies)
A joint venture is a business arrangement where two or more parties agree to pool their resources for a specific project or business activity while maintaining their distinct identities.
An electric vehicle (EV) is a type of vehicle that is powered by electricity, using electric motors instead of internal combustion engines, and can be charged from an external power source.
Sustainability in business refers to operating in a way that meets current needs without compromising the ability of future generations to meet their own needs, often focusing on environmental and social responsibility.
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