"Stellantis Weighs Exit From Battery Joint Venture With Samsung SDI"

Bloomberg News reported on the 10th (local time) that as automaker Stellantis continues to readjust its electric vehicle (EV) business, it is considering withdrawing from StarPlus Energy, its U.S. joint venture (JV) with Samsung SDI.

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Stellantis recently revamped its EV-focused business strategy and recognized an impairment of 22 billion euros (about 37 trillion won), including the cancellation of EV model launches and related costs such as compensation for suppliers. As a result, the company is scaling back EV investments and moving to secure cash. In the midst of this, StarPlus Energy, from which a potential withdrawal is being discussed, is a battery JV that Stellantis and Samsung SDI established in 2021 in the state of Indiana in the United States. Its first plant began operations in 2024. Part of its production volume has reportedly been converted for use in energy storage systems (ESS).

Quoting a source familiar with the matter, Bloomberg explained, "They have explored options to sell their stake in the joint venture, but no final decision has been made yet and the situation could change," adding, "There is also a possibility that the stake could be sold to a third party."

Stellantis told Bloomberg, "We are continuing cooperative discussions with Samsung regarding the future direction of the StarPlus Energy joint venture." In contrast, Samsung reportedly did not provide an immediate response.

Stellantis has recently been maintaining a stance of reducing its investments in EV batteries. The company has also withdrawn from NextStar Energy, its Canadian joint venture with LG Energy Solution. In that transaction, LG Energy Solution acquired Stellantis's stake for just 100 dollars. NextStar Energy began producing batteries for energy storage solutions (ESS) in late November last year. Stellantis stated that it plans to continue purchasing EV batteries produced at that plant.

In addition, Automotive Cells Company (ACC), a battery joint venture of Stellantis, Mercedes-Benz, and TotalEnergies, recently halted plans to build battery plants in Germany and Italy. At its sites in France, problems that have arisen during the process of expanding battery production have led the company to hold talks with labor unions on the possibility of temporary layoffs.

Meanwhile, major automakers including Stellantis, General Motors (GM), and Ford are reworking their EV strategies. EV demand has not expanded as quickly as expected, and U.S. President Donald Trump has reversed the previous administration's EV-friendly policies. As a result, these companies are reassessing the multibillion-dollar battery investments made during the Biden administration.

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