Stellantis Takes $26 Billion Hit After Scaling Back EV Strategy

Stellantis booked a massive $26 billion charge after scaling back its electric vehicle strategy amid slower demand and shifting market conditions. The automaker said the move reflects reassessment of long term EV investments, technology paths, and regulatory pressures. Investors reacted cautiously as the decision raised concerns over profitability, capital allocation, and competitiveness while global automakers recalibrate electric vehicle ambitions in response to consumer trends.