Feb 10 - Stellantis NV is evaluating options to leave its U.S. battery joint venture with South Korea's Samsung SDI Co. as the automaker reduces its electric vehicle plans, according to people familiar with the matter. Reuters could not immediately verify the report.
The company and Samsung SDI had not responded to requests for comment at the time the original report was circulated. The development follows Stellantis' disclosure last week of writedowns exceeding $26.5 billion, a move that significantly weighed on the automaker's stock as traditional vehicle manufacturers confront the financial consequences of their EV strategies.
Sources cited in the report said Stellantis has been exploring ways to divest its stake in the U.S. battery venture, although no final course of action has been determined. The report noted that exiting the joint venture could carry substantial costs for Stellantis and may involve a protracted process. One potential path under discussion would be selling the stake to a third party.
Stellantis provided a statement to Bloomberg News saying, "We continue to have ongoing collaborative discussions with Samsung on the future of our StarPlus Energy JV." The company stressed that talks remain in progress while options are evaluated.
The broader context cited in the report centers on the recent writedowns that the automaker recorded. Those writeoffs have had immediate market consequences, underscoring the financial pressure facing legacy automakers that misjudged the timing or scale of the shift toward cleaner transportation.
Alongside the reporting on the joint venture, an investment product pitch appeared that highlights an AI-driven research tool. That tool claims to evaluate specific tickers, including STLAM, across more than 100 financial metrics to identify risk-reward opportunities without regard to popularity. The promotional material asserts the AI has identified notable past winners, and it invites readers to check whether STLAM appears in any current strategies or whether alternatives exist in the same sector.
At this stage, the steps Stellantis may take remain uncertain. Company discussions with Samsung are ongoing, and any move to unwind or transfer the joint venture stake would likely require negotiations and could involve significant financial implications for the automaker.