For just US$100, Stellantis dumps Canadian gigafactory stake [Wealth Professional (Canada)]
Stellantis N.V. Common Shares (STLA)
Company Research
Source: Wealth Professional
Stellantis just walked away from Canada's only operating gigafactory for US$100 — and swallowed almost a US$1bn write-down to do it. According to Financial Post , Stellantis NV sold its 49 percent stake in Windsor-based NextStar Energy to partner LG Energy Solution Ltd. for US$100, after originally investing US$980m in the plant. At the same time, the automaker is taking about US$26bn in charges as it rewrites its electric-vehicle strategy, one of the largest write-downs among global automakers. LG Energy already held 51 percent of the 4.23-million-square-foot facility and now owns the plant outright. LG plans to use the site to serve a wider range of automakers, not just Stellantis, and noted that LG already supplies General Motors, Honda and Hyundai, among others. NextStar chief operating officer Brett Hillock said the change “enables us to open our doors to a wider range of (automaker) OEM customers while continuing to scale operations,” as quoted by Financial Post CBC
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News
- Market Outlook: Canada's auto sector contracts amid EV uncertainty [BNN Bloomberg (Canada)]BNN Bloomberg
- Stellantis issues "do not drive" warning for 225,000 vehicles with unrepaired Takata air bags [CBS News]CBS News
- Stellantis issues 'stop-drive' alert for 225K Dodge, Chrysler, Jeep cars [USA TODAY]USA TODAY
- Several vehicles stolen from storage lot near Detroit Assembly Complex [CBS News]CBS News
- Stellantis issues 'Do Not Drive' alert for 225,000 older US vehicles [Yahoo! Finance Canada]Yahoo! Finance Canada
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- 2/6/26 - Form 6-K
- 1/29/26 - Form 6-K
- 1/14/26 - Form 6-K
- STLA's page on the SEC website