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LG Energy Solution will take full ownership of NextStar Energy by acquiring Stellantis's 49% stake for $100, effective June 30. This acquisition aims to support a broader customer base, including the energy storage system industry.

Since the joint venture's establishment in 2022, over C$5 billion (USD$3.7 billion) has been invested. Stellantis is also restructuring its business, incurring a €22.2 billion (USD$26 billion) charge to realign its electric vehicle plans amid declining market demand. LG Energy Solution plans to expand its focus on energy storage systems, targeting over 60 GWh of global capacity this year.