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Photo: Samsung SDI |
[Alpha Biz= Paul Lee] NEW YORK/SEOUL – Stellantis NV is exploring options to exit StarPlus Energy (SPE), its electric vehicle (EV) battery joint venture in the United States with Samsung SDI, Bloomberg News reported on Monday (local time).
Shift in EV Strategy The move comes as the European automaker seeks to scale back its EV investments and prioritize cash preservation. Last week, Stellantis announced a significant asset impairment of €22 billion ($23.3 billion), reflecting the challenging market conditions and slowing demand for electric vehicles.
Potential Exit Strategies According to sources familiar with the matter, Stellantis has been weighing various scenarios for its withdrawal from SPE, though a final decision has not yet been made. Potential options include:
Divestment: Selling its stake in SPE to a third party.
Negotiated Exit: A collaborative restructuring of the partnership with Samsung SDI.
One source noted that the exit process could be costly and time-consuming given the operational scale of the venture.
Official Responses In response to the reports, Stellantis stated that it continues to engage in "collaborative discussions with Samsung SDI regarding the future of SPE." StarPlus Energy, located in Kokomo, Indiana, commenced its battery production operations in 2024. The news follows Stellantis’s official announcement last week that it would withdraw from its Canadian joint venture with LG Energy Solution, signaling a broader retreat from its initial aggressive battery manufacturing plans.
Alphabiz Reporter Paul Lee(hoondork1977@alphabiz.co.kr)
