Stellantis NV, the company that makes Jeep and Ram, is thinking about leaving its battery project with Samsung SDI in the US. The company wants to save money after reporting more than €22 billion ($26 billion) in losses. Slower sales of electric vehicles have made Stellantis rethink its plans for batteries and EVs.

Bloomberg reports that Stellantis is exploring ways to sell its stake in the Indiana battery project with Samsung. No final decision has been made, and leaving the project could be costly and time-consuming. Stellantis said it is still “in discussions with Samsung on the future” of the joint venture. If it exists, the company may sell its share to another party.

The Indiana battery plant started in 2024 and was Samsung’s first in the US. Stellantis and Samsung planned to invest $2.5 billion and create 1,400 jobs. Some batteries from the plant are now being used for energy storage, and Samsung has found new customers for these batteries.

This move follows Stellantis’ exit from a separate battery partnership with LG in Canada. While the company continues to buy batteries from that plant, it is pulling back from investments that are not profitable.

The decision shows that big EV investments are being reevaluated. Stellantis CEO Antonio Filosa is trying to cut losses and focus on projects that make more financial sense. For Samsung, the Indiana plant is now shifting partially toward energy storage, a market that is growing faster than EV batteries. Stay tuned for more information.

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