Stellantis has exited its joint venture at the Windsor, Ontario battery plant, selling its 49 percent stake in NextStar Energy to partner LG Energy Solution for a nominal $100, marking an almost complete write-down of its electric vehicle investment in the project.
The automaker had invested close to $980 million in the facility, which was positioned as a key pillar of its North American electrification strategy. The sale transfers full ownership of the plant to LG Energy Solution, while allowing Stellantis to step away from future capital commitments and execution risks tied to the project.
The symbolic transaction value does not reflect the physical or strategic importance of the plant itself, which remains operational. Instead, it underscores Stellantis’ decision to reassess earlier EV assumptions amid softer demand, pricing pressure and the rising cost of capital globally. By exiting the equity structure, Stellantis removes the asset from its balance sheet while retaining optionality through supply arrangements.
Stellantis has said it will continue to source battery cells from the Windsor facility under commercial agreements, ensuring access to localised battery supply without ownership exposure. This model mirrors a broader industry shift, where OEMs are increasingly prioritising flexibility over heavy upfront investment as EV adoption curves moderate.
The move forms part of a wider EV-related write-down at the group level, reflecting delays in market uptake and the need to realign investment timelines. While the Windsor plant was once seen as a cornerstone of Stellantis’ EV roadmap, the $100 exit highlights how rapidly electrification strategies are being recalibrated across the global automotive industry.