Stellantis plunges on $27 billion bill for EV pullback

After a $26 Billion Hit, Stellantis Shifts Focus Back to What Buyers Want

The post After a $26 Billion Hit, Stellantis Shifts Focus Back to What Buyers Want appeared first on 🔔 The Liberty Daily.

Stellantis takes massive $26 Billion hit ‘after misjudging consumer demand for EVs’

https://www.foxbusiness.com/markets/stellantis-takes-massive-26b-hit-after-moving-away-from-evs By Eric Revell FOXBusiness Automaker’s stock plunges over 22% as CEO Antonio Filosa admits company was ‘over optimistic’ about electric vehicle demand Stellantis on Friday announced it will take a $26.5 billion charge as the automaker cuts back on electric vehicle (EV) production, joining other manufacturers in taking a financial hit after misjudging …

Stellantis Stumbles In A Staggering EV Retreat - CleanTechnica

Stellantis announced that it is taking a $26 billion hit associated with backtracking on EVs. The vast majority of the write-down is specific to North America, where Stellantis has essentially given up on plug-in vehicles. EV production is being replaced with a return of ICE powertrains, including the “Hemi”.This retreat comes in addition to selling off its stake in the NextStar battery JV in Canada to LG, which was also announced Friday.Overall,

Automaker Loses $26B on Unwanted Electric Vehicles

Automaker Stellantis takes a $26B hit as electric vehicle demand falls short and quality issues arise.

Stellantis plunges on $27 billion bill for EV pullback

Stellantis Has Lost USD12 Billion From Negative Business

Stellantis Hit By USD26 Billion Electric Vehicle Sales Handbrake Shares of automaker Stellantis plunged 27% in European trading last Friday as reported by CNBC, after the company said it expects to take a 22 billion euro (USD26 billion) hit from a business reset and hinted at a pull-back from its electrification push. In Milan, the company’s Italian shares fell 25% Friday. On Wall Street, the transatlantic firm’s New York-listed stock plummeted …