Stock Market News
Stellantis, LGES implementing ‘contingency plans’ for battery plant in Canada
2023.05.12 20:51
2/2
© Reuters. FILE PHOTO: A Stellantis sign is seen outside the company’s headquarters in Auburn Hills, Michigan, U.S., June 10, 2021. REUTERS/Rebecca Cook/File Photo
2/2
© Reuters. FILE PHOTO: A Stellantis sign is seen outside the company’s headquarters in Auburn Hills, Michigan, U.S., June 10, 2021. REUTERS/Rebecca Cook/File Photo
2/2
OTTAWA (Reuters) – Automaker Stellantis and South Korea’s LG Energy Solution (LGES) are implementing “contingency plans” related to a more-than C$5 billion battery plant investment plan in Canada because the federal government has not delivered on its promises, a Stellantis spokesperson said on Friday.
“As of today, the Canadian Government has not delivered on what was agreed to, therefore Stellantis and LG Energy Solution will immediately begin implementing their contingency plans,” Stellantis said in a brief emailed statement.
