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Stellantis and LG Energy Solution say their joint venture to build batteries for electric vehicles in Windsor, Ont. will be called NextStar Energy and be led by Danies Lee as chief executive.

The Windsor plant is slated to be Canada’s first large-scale lithium-ion battery production plant, with constructed expected to start later this year and production in 2024.

The two companies have committed to spending over $5 billion to build the plant with support from all levels of government, though for commercial security reasons the amount of public funding has not yet been disclosed.

The plant is expected to create about 2,500 jobs and have more than 45 gigawatt hours of annual production capacity.

Stellantis has targeted 2030 for making EVs half of all vehicles sold in North America and all in Europe.

The company announced in early May that it would also invest $3.6 billion to upgrade its assembly lines in Windsor and Brampton, Ont., so they can make electric cars.

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