Friday, February 6, 2026 at 9:16 AM
Stellantis will incur $26 billion in charges as it scales back its electric vehicle development plans, reflecting a shift in strategy due to overestimating the pace of the energy transition.
The move could escalate tension between Ottawa and the automakers, who have scaled back production in the country.
Companies are taking big losses and making moves to reduce electric-vehicle capacity amid regulatory changes and cooling demand.
The Japanese carmaker reported sharply weaker nine-month results, dented by U.S. tariffs and EV-related impairments.
Detroit automaker reported its largest ever quarterly loss on EV-related charges.
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