[SMM Tin Express: Stellantis Plans to Withdraw from US Battery Joint Venture with Samsung]

Published: Feb 11, 2026 09:37

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Automaker Stellantis (STLA.N) is seeking to exit its US battery joint venture with South Korea's Samsung SDI. This comes after the company announced last week an asset impairment of over €22 billion (approximately $26 billion) as it gradually scales back its EV deployment and strives to preserve cash. Exiting the joint venture could be costly and protracted. Stellantis may also sell its stake to a third party. Following Trump's policy moves to undermine plug-in vehicles, EV and battery projects have put pressure on the company, and CEO Antonio Filosa is working to contain related losses. Stellantis and Samsung established the Indiana joint venture in 2021, committing to invest $2.5 billion and create 1,400 new jobs in Kokomo. The plant, Samsung's sole battery factory in the US, began operations in 2024 and has started producing some battery cells for ESS.

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