Source link : https://tech365.info/stellantis-stumbles-in-a-staggering-ev-retreat-cleantechnica/
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Stellantis introduced that it’s taking a $26 billion hit related to backtracking on EVs. The overwhelming majority of the write-down is restricted to North America, the place Stellantis has primarily given up on plug-in automobiles. EV manufacturing is being changed with a return of ICE powertrains, together with the “Hemi.”
This retreat comes along with promoting off its stake within the NextStar battery JV in Canada to LG, which was additionally introduced Friday.
Total, Stellantis is dropping an enormous amount of cash and has little to point out for it. For much less cash than the $26 billion loss, they may have purchased Geely Automotive Holdings (177 billion HKD/$22.65 billion USD market cap). The loss can also be greater than the present market cap of Stellantis itself (17.9 billon Euro/$21.3 billion USD).
This comes after Ford misplaced $19.5 billion and GM misplaced $7.9 billion final 12 months attributable to their very own retreats from EVs. All of them have been dropping cash on EVs earlier than the retreat. GM and Ford nonetheless have slightly EV presence left, and their inventory worth went up after saying that they’d cut back EV plans. Nonetheless, not like these corporations, Stellantis is indicating that it’s going to lose a big amount of cash once more for 2025, and its inventory was down round 24% on Friday. However…
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Author : tech365
Publish date : 2026-02-07 21:15:00
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