The automaker had invested US$980 million in the plant as part of a $5-billion joint venture with LG, according to regulatory filings. Stellantis spokesperson LouAnn Gosselin declined to comment on the price, saying only that while it was nominal it came with “undisclosed” benefits. Stellantis Canada CEO Trevor Longley said the automaker will remain a customer for the battery plant. (The Logic)

Talking point: The sale comes as Stellantis announces a US$26-billion write-off across its business amid “significantly reduced” EV sales expectations. Stellantis’s hybrid Chrysler Pacifica and electric Dodge Charger are two of the few Canadian-made consumer EVs to qualify for the government’s new rebate program. Gosselin said the Windsor Assembly Plant, where the vehicles are made, won’t be affected, though Stellantis is still working with the Canadian government on the future of its Brampton, Ont., factory. LG said it still wants to build up the battery plant’s workforce to 2,500 employees.