Stellantis (NYSE: STLA) and LG Corp’s (KRX: 003550) joint venture NextStar Energy is starting its first round of hiring this summer for what will soon be Canada’s largest electric vehicle battery plant.
The company announced Monday that it will be hiring 130 employees for the factory. One hundred will be engineers and technicians and the other 30 will be focused on launching and establishing business operations at the facility.
The $5 billion plant currently under construction will begin operating in early 2024 following the team of engineers and technicians completing an international training program where they will learn about large-scale lithium-ion battery plants that are currently operating in China, South Korea and Poland.
Approximately 2,370 more employees will be hired after the initial 130 in the coming years and NextStar says it will start producing EV battery modules in Q2 next year prior to the production of electrodes and cells as well in early 2025. The plant will span 4.5 million square feet and will be capable of producing batteries for half a million electric vehicles annually.
“Through our partnership we are revolutionizing the North American EV industry, and ensuring the proud tradition of automotive production in Windsor continues for future generations, by turning the region into the leading EV battery hub on the continent,” said NextStar’s CEO Danies Lee.
NextStar Energy is hiring for Canada's first large-scale EV battery plant in Windsor. I am proud to say that these jobs are the result of the unwavering commitment and partnership between NextStar Energy, upper levels of government and the City of Windsor. pic.twitter.com/DzvmCalJgG
— Drew Dilkens (@drewdilkens) July 31, 2023
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Windsor has long been known for its role in the automotive industry, the city’s primary economic driver. Located adjacent to the “Motor City” Detroit, Michigan one can view the General Motors (NYSE: GM) headquarters from the Canadian side of the Detroit River.
The city’s number one employer is the Fiat Chrysler assembly plant, a 4.4 million-square-foot facility with over 3,500 workers.
“The new facility will be a key part of our province’s end-to-end EV supply chain, creating 2,500 good-paying manufacturing jobs in Windsor and the surrounding region, starting with the first 130 posted today,” said Ontario’s Minister of Economic Development, Job Creation and Trade Vic Fedeli.
Stellantis shares are currently trading for US$20.55 on the New York Stock Exchange.
LG stock dropped by 0.24 per cent to trade at C$85.50 on the Korea Exchange.
rowan@mugglehead.com
