- Stellantis and battery maker LG Energy Solution are teaming up to build a lithium-ion-battery manufacturing plant in North America that will start operations in early 2024, the automaker announced this morning.
- Separately, Toyota announced today that it will spend $3.4 billion to develop battery production and build hybrid and electric vehicles in the U.S. Toyota will be pairing with Toyota Tsusho on a lithium-ion-battery plant to open by 2025.
- Both moves are another sign of how seriously mainstream automakers are taking the move toward electric vehicles, following recent announcements from Ford and GM about similar investment plans.
Stellantis, parent company of Dodge, Jeep, and Ram, announced this morning that it’s teaming with battery maker LG to produce lithium-ion battery cells and modules in a North American plant. The location was not announced, but the target start date is early 2024, according to the automaker’s statement. The batteries will be used in hybrid and electric vehicles built in North America. Stellantis has previously stated it intends to have 40 percent of its U.S. sales come from EVs by 2030 and has earmarked a total of $35 billion toward meeting that goal. In July, Jeep revealed its 2022 Grand Cherokee 4xe plug-in hybrid and vowed to have a zero-emission vehicle in every SUV segment by 2025.