Finance
LG Energy Solution to end Canada battery JV with Stellantis
Published by Global Banking & Finance Review®
Posted on February 6, 2026
1 min readLast updated: February 6, 2026
Quick Summary
LG Energy Solution will acquire Stellantis' 49% stake in their Canadian battery joint venture for $100, amid changing EV market dynamics.
LG Energy Solution to Acquire Stellantis' Stake in Canada Battery JV
LG Energy Solution's Acquisition of Stellantis Stake
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.
Background on the Joint Venture
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.
Impact of Market Changes
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.
Future of Electric Vehicle Investments
(Reporting by Heejin Kim, Hyunjoo JinEditing by Ed Davies)
Key Takeaways
- •LG Energy Solution plans to acquire Stellantis' 49% stake in their Canadian battery JV.
- •The acquisition is for a nominal amount of $100.
- •Automakers are retreating from EVs due to policy changes and demand.
- •Stellantis had initially invested heavily in electrification.
- •The move reflects broader market shifts in EV strategies.
Frequently Asked Questions about LG Energy Solution to end Canada battery JV with Stellantis
1What is a joint venture?
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.
2What is an electric vehicle?
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.
3What is sustainability in business?
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.