Stellantis is reported to be considering withdrawing from its US battery partnership with South Korea’s Samsung SDI as it reins in electric-vehicle (EV) spending and looks to conserve cash.
The company has held talks about potentially selling its stake in the joint venture but has not reached a decision, Bloomberg reported, citing sources.
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Stellantis is aiming to conserve cash following the more than €22bn ($26.20bn) in write-downs, it announced last week.
Any departure could take time and prove expensive, the sources said, with the automaker possibly seeking a third-party buyer.
Chief executive officer Antonio Filosa is attempting to curb losses linked to EV and battery initiatives that had been forecast to be unprofitable following policy shifts under US President Donald Trump that weaken incentives for plug-in cars.
Stellantis and Samsung established their Indiana venture in 2021, committing $2.5bn and promising 1,400 jobs in Kokomo, home to existing Stellantis engine and transmission operations.
The plant, Samsung’s only battery facility in the US, began output in 2024 and has since produced cells for energy-storage applications.
The deliberations come shortly after Stellantis agreed to leave a separate partnership with LG Energy Solution in Windsor, Canada, where LG acquired its share for $100 while Stellantis will continue sourcing EV batteries from the site.
In Europe, Automotive Cells Company – backed by Stellantis – confirmed it is abandoning plans for factories in Germany and Italy.
It is also in discussions with unions at its French plant about possible temporary unemployment measures, citing difficulties ramping up battery production.
Bloomberg previously reported that Filosa’s retreat from EV programmes would shrink the number of battery plants the group needs in both North America and Europe.
Stellantis, General Motors, Ford Motor and their partners have all been revisiting multibillion-dollar battery commitments made during the Biden administration after electric-vehicle demand fell short of expectations and Trump reversed supportive policies.
Several groups are now assessing whether output could be redirected towards batteries for grid and data-centre uses, where demand is increasing.
Samsung, meanwhile, has recently signed new customers for stationary-storage batteries, one source said.
