economy

February 6, 2026

Stellantis shares plunge on $26 billion charges from EV retreat

Stellantis shares suffered a record drop after the automaker announced it is taking more than $26 billion in charges to reverse course on its electric vehicle strategy.

Stellantis shares plunge on $26 billion charges from EV retreat

TL;DR

  • Stellantis is taking over $26 billion in charges to alter its electric vehicle (EV) strategy.
  • The write-off is attributed to reduced EV demand, a need to align product plans with customer preferences and US emission regulations, and resizing the EV supply chain.
  • The company's shares experienced a record drop of over 28%.
  • Stellantis states it remains committed to EV development but will be guided by demand, while also offering hybrid and internal combustion engine options.
  • This move follows similar retrenchments from EV commitments by Ford and General Motors.

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