Ontario Briefing - March 23, 2022

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NEWS RELEASE

Ontario Secures Largest Auto Investment in Province’s History

LG Energy Solution and Stellantis investing in Windsor for province’s first large-scale EV battery manufacturing plant

March 23, 2022

WINDSOR — With the support of the Ontario, federal and municipal governments, LG Energy Solution and automaker Stellantis are joining forces to build the province’s first large-scale electric vehicle (EV) battery manufacturing plant.

The joint venture between LG Energy Solution, Ltd. (LGES) and Stellantis N.V. will invest more than CDN $5 billion (USD $4.1 billion) to build a facility in Windsor to manufacture batteries for EVs in Canada, representing the largest automotive manufacturing investment in the history of the province. This historic investment puts Ontario on a path to becoming one of the most vertically integrated automotive jurisdictions in the emerging North American EV market. The battery facility, with a production capacity of 45 gigawatt hours (GWh) that will supply Stellantis plants in the North American market, will employ an estimated 2,500 people. Construction activities are scheduled to begin later this year with production operations planned to launch in the first quarter of 2024. The facility will be fully operational by 2025.

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