Construction of a $3.7-billion electric-vehicle battery plant jointly owned by Stellantis and LG Energy Solution has resumed, the automaker said July 5
NextStar Energy, the name of the joint venture in Windsor, Ont., signed a binding agreement with the federal government ensuring the production of battery cells and modules at the facility.
The agreement includes the Canadian government’s commitment “to level the playing field with the U.S. Inflation Reduction Act (IRA),” Stellantis said in a statement.
NextStar lawyers spent the month of June reviewing a financial aid package the federal government gave the company on June 2.
Terms of the offer are unknown. But, Ontario has pledged to pay for up to one third of the entire package. Sources say that could be as much as $3.7 billion.
NextStar earlier this year said it wanted more subsidies to help pay for production of the cells and modules. It wanted terms similar to the U.S. IRA.
Ste…