Stellantis seeks to exit Samsung battery venture as electric vehicle losses mount
Stellantis is looking to exit its battery venture with Samsung SDI. This follows massive writedowns as the automaker scales back its electric vehicle goals.
Insights:
Stellantis N.V. is exploring a potential exit from its battery joint venture in the United States 
US with Samsung SDI Co., Ltd. , according to a report by Bloomberg. The move comes as the automaker scales back its ambitions within the electric-vehicle sector following a significant reassessment of its global operations and investment priorities.
US with Samsung SDI Co., Ltd. , according to a report by Bloomberg. The move comes as the automaker scales back its ambitions within the electric-vehicle sector following a significant reassessment of its global operations and investment priorities.The reported discussions follow an announcement last week in which Stellantis disclosed more than $26.5 billion in writedowns. This large-scale financial adjustment has pressured the company and is driving a reassessment of its electric-vehicle strategy and investments, specifically its involvement in the StarPlus Energy JV.
