The announcement comes amid reports that Stellantis is considering exiting its U.S. battery joint venture with Samsung SDI as the company scales back its electric vehicle ambitions. Last month, Bloomberg reported on Stellantis’ plans following the automaker’s disclosure of more than $26.5 billion in writedowns, highlighting the financial strain traditional carmakers face in transitioning to cleaner transportation.
Despite broader market pressures, shares of Samsung SDI were up 0.6% in morning trading, contrasting with a 2.6% drop in the benchmark KOSPI index.