Stellantis has announced a $26.5 billion write-down amid the scaling back of some projects related to the production of electric vehicles. The decision was made due to a slowdown in buyer interest in all-electric models in key markets. Immediately after the publication of the report, Stellantis' shares fell by more than 22%.
CEO Antonio Filosa stated that previous forecasts were incorrect. According to him, expectations for demand for electric vehicles were "too optimistic," which required a radical revision of the development strategy.
Stellantis, which owns the Chrysler, Jeep, Dodge, and Ram brands, has become one of the largest automakers affected by the cooling EV market. The amount of write-downs exceeded the losses of Ford and General Motors. For comparison, GM previously reported losses of about $7 billion after adjusting its electric vehicle program in the United States.
Ambitious plans for full electrification were laid down under the previous head of the company, Carlos Tavares. He expected that by 2030, electric vehicles would account for 100% of Stellantis' sales in Europe and 50% in the United States. However, a drop in sales in the American market, where the concern is heavily dependent on Jeep and Ram pickups, led to his resignation in 2024.
Antonio Filosa, who took over Stellantis last summer, announced the start of a large-scale strategic restructuring. The new development model will take into account the real preferences of customers in each region. Market data confirms the cautious approach: in 2025, the share of electric vehicles was 19.5% of sales in Europe and only 7.7% in the United States.
