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Stellantis Sells Stake in Canadian Battery Plant
Automaker shifts focus back to gas-powered vehicles amid $26.5 billion in EV losses
Published on Feb. 10, 2026
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Stellantis NV has sold its 49% stake in a Canadian battery plant to its partner LG Energy Solution for $100. The move comes as Stellantis, the automaker behind brands like Jeep and Dodge, announced $26.5 billion in electric vehicle-related losses and pivoted back towards gas-powered vehicles.
Why it matters
Stellantis' decision to sell its stake in the Canadian battery plant reflects broader challenges facing automakers as they navigate the transition to electric vehicles. The massive EV-related losses and shift back to gas-powered models suggest demand for EVs has not materialized as expected, forcing companies to reevaluate their strategies.
The details
Under the 2022 joint venture, the Windsor, Ontario battery plant was built to supply Stellantis with EV batteries. However, with over 1,300 workers and plans to employ up to 2,500, the plant will now be fully owned by LG Energy Solution. Stellantis says this will "strengthen the long-term viability" of the facility while securing its own battery supply.
- Stellantis sold its 49% stake in the Canadian battery plant on February 10, 2026.
- The Windsor, Ontario battery plant was built under a 2022 joint venture between Stellantis and LG Energy Solution.
The players
Stellantis NV
An automotive manufacturing corporation formed in 2021 through the merger of Fiat Chrysler Automobiles and Peugeot S.A. It produces and sells vehicles under brands like Jeep, Dodge, Ram, and Chrysler.
LG Energy Solution
A South Korean battery maker that now fully owns the Windsor, Ontario battery plant after buying Stellantis' 49% stake.
Antonio Filosa
The CEO of Stellantis.
David Kim
The CEO of LG Energy Solution.
What they’re saying
“By enabling LG Energy Solution to fully leverage the Windsor facility's capacity, we are strengthening its long-term viability while securing the battery supply for our electric vehicles. This is a smart, strategic step that supports our customers, our Canadian operations, and our global electrification roadmap.”
— Antonio Filosa, CEO, Stellantis (arkansasonline.com)
“We see growth opportunities in North America by situating a key production hub in Canada. Taking over the Canadian joint venture, NextStar, will position us to play a key role in Canada's EV industry by securing additional North American-based customers.”
— David Kim, CEO, LG Energy Solution (arkansasonline.com)
What’s next
Stellantis will continue to source batteries from the Windsor plant, which LG Energy Solution plans to ramp up to full production capacity employing up to 2,500 workers.
The takeaway
Stellantis' decision to sell its stake in the Canadian battery plant reflects the broader challenges facing automakers as they navigate the transition to electric vehicles. The company's $26.5 billion in EV-related losses and pivot back to gas-powered models suggest demand for EVs has not materialized as expected, forcing companies to reevaluate their strategies.
