Stellantis racks up €22.2 billion loss going all-electric
Stellantis—the company behind Jeep and Fiat—just announced it expects its first big annual loss since merging in 2021, all because its electric vehicle (EV) game plan didn't go as planned.
After realizing the switch to EVs was tougher than expected, Stellantis racked up €22.2 billion in charges in just half a year.
Most of the charge is tied to scrapping or reworking products
Most of the €14.7 billion charge is tied to scrapping or reworking products—like canceling new EVs and writing off platforms that didn't work out.
There's also €2.1 billion set aside for resizing their EV supply chain, plus another €5.4 billion for warranty fixes and restructuring costs.
On top of that, they'll be paying out €6.5 billion over four years.
Stellantis is axing several upcoming EVs
Stellantis is axing several upcoming EVs—including the Ram 1500 BEV and a $25k electric Jeep—but bringing back fan favorites like the HEMI V8 Ram and six-cylinder Dodge Charger.
Even with these setbacks, CEO Antonio Filosa told investors the company expects to return to profit in 2026.