Stellantis weighs exit from Samsung US battery venture – report

Stellantis is reported to beryllium considering withdrawing from its US artillery concern with South Korea’s Samsung SDI arsenic it reins successful electric-vehicle (EV) spending and looks to conserve cash.

The institution has held talks astir perchance selling its involvement successful the associated task but has not reached a decision, Bloomberg reported, citing sources.

Stellantis is aiming to conserve currency pursuing the much than €22bn ($26.20bn) successful write-downs, it announced past week.

Any departure could instrumentality clip and beryllium expensive, the sources said, with the automaker perchance seeking a third-party buyer.

Chief enforcement serviceman Antonio Filosa is attempting to curb losses linked to EV and artillery initiatives that had been forecast to beryllium unprofitable pursuing argumentation shifts nether US President Donald Trump that weaken incentives for plug-in cars.

Stellantis and Samsung established their Indiana task successful 2021, committing $2.5bn and promising 1,400 jobs successful Kokomo, location to existing Stellantis motor and transmission operations.

The plant, Samsung’s lone artillery installation successful the US, began output successful 2024 and has since produced cells for energy-storage applications.

The deliberations travel soon aft Stellantis agreed to permission a abstracted concern with LG Energy Solution successful Windsor, Canada, wherever LG acquired its stock for $100 portion Stellantis volition proceed sourcing EV batteries from the site.

In Europe, Automotive Cells Company - backed by Stellantis - confirmed it is abandoning plans for factories successful Germany and Italy.

It is besides successful discussions with unions astatine its French works astir imaginable impermanent unemployment measures, citing difficulties ramping up artillery production.

Bloomberg antecedently reported that Filosa’s retreat from EV programmes would shrink the fig of artillery plants the radical needs successful some North America and Europe.

Stellantis, General Motors, Ford Motor and their partners person each been revisiting multibillion-dollar artillery commitments made during the Biden medication aft electric-vehicle request fell abbreviated of expectations and Trump reversed supportive policies.

Several groups are present assessing whether output could beryllium redirected towards batteries for grid and data-centre uses, wherever request is increasing.

Samsung, meanwhile, has precocious signed caller customers for stationary-storage batteries, 1 root said.

"Stellantis weighs exit from Samsung US artillery task – study " was primitively created and published by Just Auto, a GlobalData owned brand.

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