Stellantis to sell 49% equity stake in NextStar Energy to LG Energy Solution

LG Energy Solution, Stellantis (STLA), and NextStar Energy announced that LG Energy Solution will acquire full ownership of NextStar Energy, with Stellantis selling its 49% equity stake to LG Energy Solution. NextStar Energy was established as a joint venture by the two companies in 2022.The ownership transition is a mutually agreed, strategic decision by the joint venture’s two shareholders, LG Energy Solution and Stellantis. The decision was informed by engagement with NextStar Energy’s leadership. Stellantis remains a customer and will continue to source battery products from NextStar Energy. The closing of this transaction is subject to approvals and other conditions.