Samsung SDI to lend $1.05 billion to Stellantis JV StarPlus Energy

South Korea's Samsung SDI said it plans to lend 1.6 trillion won ($1.05 billion) to StarPlus Energy, its ‌battery ⁠joint ⁠venture with Stellantis.

The company said in a regulatory filing that the loan would be used to fund capital investment.

Last month, Bloomberg ​reported that Stellantis ⁠was looking to ‌exit its ​U.S. ​battery joint venture with ⁠Samsung SDI as the automaker scales ​back its electric vehicle ​plans.


The report came after Stellantis announced more than $26.5 billion in writedowns, hammering its shares as traditional automakers ‌pay the price of misjudging the switch to ​cleaner driving.

Shares ​of ⁠Samsung SDI were trading up 0.6% in morning trade compared with the ​benchmark KOSPI index's 2.6% fall.