Samsung SDI has announced its plan to provide a loan of 1.6 trillion won (approximately $10.5 billion) to StarPlus Energy, its battery joint venture with Stellantis NV. The company stated in a regulatory filing that the funds will be allocated for capital investment. This move comes amid recent reports that Stellantis NV is seeking to exit the battery joint venture with Samsung SDI in the United States, following a scaling back of its electric vehicle initiatives. Previously, Stellantis NV announced asset writedowns exceeding $26.5 billion, which led to a sharp decline in its stock price.
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