Stellantis said Friday that it was making a 22-billion-euro write-down on its balance sheet because it overestimated the pace of the transition towards electric vehicles, adding that it will not pay dividends this year because of the hit.

    "The reset we have announced today is part of the decisive process we started in 2025, to once again make our customers and their preferences our guiding star," said CEO Antonio Filosa.

    "The charges announced today largely reflect the cost of over-estimating the pace of the energy transition that distanced us from many car buyers' real-world needs, means and desires.
    "They also reflect the impact of previous poor operational execution, the effects of which are being progressively addressed by our new Team.
    "We have gone deep into every corner of our business and are making the necessary changes, mobilizing all the passion and ingenuity we have within Stellantis.
    "The positive customer reception to our product actions in 2025 resulted in increased orders and a return to top-line growth.
    "In 2026, our unwavering focus is on closing past execution gaps to add further momentum to these early signs of renewed growth".
    Stellantis' share price shed over 20% after the announcement, with over four billion euros in capitalization going up in smoke.
    The Italian-French-American group, whose brands include Jeep, Peugeot, Fiat, Lancia, Maserati, Alfa Romeo and Chrysler, did have some good news on Friday, announcing that shipments for the fourth quarter of 2025 came in at around 1.5 million, a 9% increase on the same period in 2024.
   

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