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Samsung SDI to lend $1.05 billion to Stellantis JV StarPlus Energy
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AI Legal Analyst
Summary
SEOUL, March 31 : 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. 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 per cent in morning trade compared with the benchmark KOSPI index's 2.6 per cent fall. ($1 = 1,526.9000 won)
## Summary
SEOUL, March 31 : 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. 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 per cent in morning trade compared with the benchmark KOSPI index's 2.6 per cent fall. ($1 = 1,526.9000 won)
## Article Content
SEOUL, March 31 : 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 per cent in morning trade compared with the benchmark KOSPI index's 2.6 per cent fall.
($1 = 1,526.9000 won)
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## Expert Analysis
### Merits
N/A
### Areas for Consideration
N/A
### Implications
N/A
### Expert Commentary
This article covers samsung, sdi, stellantis topics. Readability: Flesch-Kincaid grade 0.0. Word count: 126.
SEOUL, March 31 : 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. 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 per cent in morning trade compared with the benchmark KOSPI index's 2.6 per cent fall. ($1 = 1,526.9000 won)
## Article Content
SEOUL, March 31 : 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 per cent in morning trade compared with the benchmark KOSPI index's 2.6 per cent fall.
($1 = 1,526.9000 won)
---
## Expert Analysis
### Merits
N/A
### Areas for Consideration
N/A
### Implications
N/A
### Expert Commentary
This article covers samsung, sdi, stellantis topics. Readability: Flesch-Kincaid grade 0.0. Word count: 126.
samsung
sdi
stellantis
plans
won
billion
battery
joint
