Stellantis, the global automotive giant, is considering selling its share in a large electric vehicle battery plant in Canada. Despite this move, Stellantis remains committed to electrification efforts. The company recently announced a significant financial setback of 22 billion Euros due to scaling back its ambitious electric vehicle plans.
CEO Antonio Filosa emphasized that the company’s recent reset is part of a strategic process to prioritize customer preferences. Stellantis plans to divest its 49% stake in NextStar Energy, a joint venture with LG Energy Solution to construct a $5 billion battery facility in Windsor, Ontario. However, the company will retain hundreds of engineers in Windsor to focus on electric vehicle and battery technology research.
Stellantis’ decision to maintain its workforce in Canada’s automotive hub aligns with ongoing concerns about the industry’s future. The company’s previous $3.6 billion investment in Ontario aimed at transitioning to electric vehicle production and enhancing research capabilities. The commitment includes establishing a cutting-edge Battery Pack Testing Facility at the Automotive Research and Development Centre in Windsor to bolster Canada’s position in EV innovation.
Despite recent developments, Stellantis continues to offer a variety of powertrains for its vehicles, such as the Windsor-manufactured Dodge Charger available in gas-powered and electric versions. The company is also expanding its workforce, with plans to hire over 20 new positions in sales and marketing across Canada. Stellantis remains dedicated to advancing low-emission technologies and scaling its operations in the Canadian market.
