Overview
- Bloomberg reports Stellantis has discussed selling its stake in StarPlus Energy to conserve cash after more than €22 billion in write-downs, though no decision has been reached.
- StarPlus, the Samsung SDI–Stellantis joint venture in Kokomo, Indiana, began output in 2024 making cells for storage applications, with a second plant under construction, according to local reporting.
- Samsung SDI signed an MOU with Korea East‑West Power to develop and invest in global ESS and renewable projects, including a management service provider trial at Samsung SDI’s LFP plant in Ulsan.
- Korean battery-makers are reallocating North American capacity toward ESS as EV demand softens, highlighted by LG Energy Solution’s $100 purchase of Stellantis’s NextStar stake and its ramp of LFP output in Michigan.
- Industry voices warn ESS contracts typically run through price-competitive tenders using lower-cost LFP cells, which pressures margins compared with EV-battery deals.