Stellantis Seeks to Exit Battery Venture With Samsung as EV Losses Mount

Stellantis NV is looking to exit its US battery joint venture with South Korea’s Samsung SDI Co. as the automaker unwinds electric-vehicle bets and tries to preserve cash after announcing more than €22 billion ($26 billion) in writedowns last week.

The owner of the Jeep and Ram brands has been exploring ways to divest from the venture, but no final decision has been made and the situation could change, according to people familiar with the discussions who asked not to be identified commenting on sensitive matters. An exit could be costly for Stellantis and a lengthy process, some of the people said. Stellantis could sell its stake to a third party, one of the people said.