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Stellantis plunges on $27 billion bill for EV pullback

On Feb 6, Stellantis booked 22.2 billion euros in charges as it scaled back EV plans, triggering a steep market selloff with shares slumping to multi-year lows in Milan.
Amid subsidy rollbacks, CEO Antonio Filosa said prior EV assumptions were `over optimistic`, citing weaker demand and policy changes.
The writedowns include about 6.5 billion euros tied to cash payments over four years from 2026 and reflect quality issues that forced Stellantis to hire 2,000 engineers and cut jobs in Europe.
Stellantis now expects a preliminary net loss of between 19 billion and 21 billion euros in the second half of fiscal 2025 and forecasts industrial cash burn of 1.4-1.6 billion euros.
Observers note Western automakers face pressure from Chinese rivals while Stellantis's best EV prospect in Europe rests on its Leapmotor partnership, following similar writedowns at Ford and GM.

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