Stellantis Ends Feud Over Windsor Battery Plant With Canadian Government, To Resume Construction
Portfolio Pulse from Anan Ashraf
Stellantis NV (NYSE:STLA) has announced it will resume construction at its $3.76 billion battery plant in Windsor, Canada, ending a dispute with the Canadian government over financial support. The plant, which was put on hold in May, is expected to have an annual production capacity of over 45 GWh and is set to launch operations in 2024. The exact amount of government subsidies the plant will receive is not yet clear.
July 06, 2023 | 4:49 am
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Stellantis' decision to resume construction at its battery plant in Canada could potentially boost its stock in the short term as it signals progress in its electric vehicle strategy.
The resumption of construction at the battery plant is a positive development for Stellantis as it indicates progress in the company's electric vehicle strategy. This could potentially attract more investors, leading to a rise in the company's stock price in the short term.
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