Stellantis swallows $26 billion costs as it rethinks its EV strategy
The automotive industry’s big bet on a rapid adoption of electric vehicles—at least here in the United States—continues to unwind. Today, Stellantis, which owns brands like Jeep and Dodge, as well as Fiat, Peugeot, and others, announced that it has “reset” its business to adapt to reality, which comes with a rather painful $26.2 billion (22.2 billion euro) write-down. It wasn’t that long ago that everyone was more bullish on electrification. Even the US had relatively ambitious plans […]