Stellantis, Samsung SDI Discuss Future of U.S. Battery JV, May Exit

Stellantis, the world’s fourth-largest automaker, is engaged in ongoing discussions with Samsung SDI regarding the future of their U.S.-based battery joint venture, StarPlus Energy. This comes after Stellantis announced a $26 billion provision for business transformation and a significant recalibration of its electrification strategy. According to Bloomberg, citing sources familiar with the matter, Stellantis is considering exiting the joint venture but has not yet made a final decision due to the complexity and high costs involved; it may instead opt to sell its stake to a third party. Meanwhile, Stellantis has already announced the sale of its 49% stake in NextStar Energy, its Canadian joint venture with LG Energy Solution, and has suspended battery plant construction plans by Automotive Cells Company—a European joint venture—in France and Italy.