The huge financial hit is likely to overshadow any 2025 profit the auto group had planned to post in its earnings report later this month.
Last year, Stellantis earned 5.5 billion. EUR net profit.
“This is the price of a deep ‘reboot’ necessary for our company to put customers at the center of everything we do and to support sustainable growth,” the statement said.
“The expected write-downs largely reflect the overestimation of the cost of the energy overhaul, which has distanced us from the real needs, capabilities and desires of many car buyers,” said group chief Antonio Filosa.
Stellantis intends to present the new operational strategy in May. It is believed that in response to the slowdown in the demand for electric cars, the group will reorient its main focus from electric cars to the production of hybrid and traditional cars.
Source: BNS
