Stellantis, LG Energy Solution Eye New EV Battery Plant In Ontario: Bloomberg

Stellantis NV STLA and LG Energy Solution Ltd look to build their new battery plant in Ontario, Canada, Bloomberg reports.
The Canadian government’s incentives for clean-energy businesses served as a key driver in attracting the companies to the country.
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Stellantis and LG Energy previously shared their plans to build a battery-cell making factory in North America. The parties intend to begin construction next quarter, with production slated to kick off in early 2024.
Price Action: STLA shares traded lower by 1.74% at $16.13 on the last check Friday.