Samsung SDI to lend $1.05 billion to Stellantis JV StarPlus Energy (updated)

Samsung SDI Co

31/03/2026 01:49

Corrects headline and paragraphs 1-2 to make clear that the company is extending the loan maturity, not issuing a new loan

SEOUL, March 31 (Reuters) - South Korea's Samsung SDI 006400.KS said it has extended the maturity of a 1.6 trillion won ($1.05 billion) loan to StarPlus Energy, its battery joint venture with Stellantis STLAM.MI.

The company said in a regulatory filing that the loan, which will be used to fund capital investment, has its term extended from March 31, 2026, to June 30, 2026. The loan was first announced in April 2024.

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 .KS11 2.6% fall.

 ($1 = 1,526.9000 won)

 (Reporting by Heejin Kim and Heekyong Yang; Editing by Himani Sarkar and Jamie Freed)

 ((Heekyong.Yang@thomsonreuters.com;))