Stellantis NV on Friday sold its 49% stake in a Canadian battery plant for $100 after the automaker behind brands including Jeep and Dodge announced $26.5 billion in electric vehicle-related losses amid a major pivot back to gas-powered vehicles.
South Korean battery maker LG Energy Solution now fully owns the Windsor, Ontario, battery plant built under a 2022 joint venture between the companies.
More than 1,300 work at the plant, and LG Energy Solution plans to employ as many as 2,500 as it ramps up to full production. The plant will continue to supply Stellantis with EV batteries.
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