Stellantis to Take $25B Hit from EV Restructuring as Shares Plunge Over 20%

Stellantis Group recently announced a restructuring of its electric vehicle (EV) business, which is expected to result in losses of approximately €22.2 billion (about RMB 180 billion). Following the announcement, the company's stock price plummeted by more than 20% on both the Milan and New York markets. Formed in 2021 through the merger of Fiat Chrysler and PSA Group (Peugeot Citroën), Stellantis was once the world's fourth-largest automaker. However, it has faced challenges in recent years, including declining sales and weak profitability, with its global market share dropping to around 6.1% in 2023. This large-scale restructuring underscores the company's difficulties in navigating the transition to electric mobility.