Stellantis Considers Exit from U.S. Battery Venture with Samsung Amid EV Losses

Feb 10 (GeokHub) Stellantis NV is reportedly exploring an exit from its U.S. battery joint venture with South Korea’s Samsung SDI, as the automaker reassesses its electric vehicle ambitions. The development comes amid mounting financial pressure on traditional automakers transitioning to clean energy vehicles.

The StarPlus Energy venture, a collaboration between Stellantis and Samsung, has not seen a confirmed decision on its future. Sources familiar with the matter told Bloomberg News that any exit could be a lengthy and costly process, potentially involving the sale of Stellantis’ stake to a third party.

Last week, Stellantis announced over $26.5 billion in writedowns tied to EV investments, sending its shares lower and highlighting the challenges facing legacy automakers in the shift to electrification.

A Stellantis spokesperson said the company is in ongoing discussions with Samsung SDI regarding the future of their battery partnership, emphasizing that no final decision has yet been made.

Industry analysts view the potential divestment as a signal of traditional automakers adjusting strategies in response to the rapidly evolving EV market, where high capital expenditures and technological uncertainties continue to pressure margins.