Mobility
Stellantis says EV shift was too fast, books 22 billion euro loss
Stellantis booked 22 billion euros ($26 billion) in restructuring losses, sending its shares sharply lower in Europe and the United States. CEO Antonio Filosa said the company was overly optimistic about the pace of the energy transition, creating a mismatch with consumer demand, and said past operational failures were also reflected in costs. Stellantis said it will adjust the pace of its electrification strategy based on demand and sell a 49 percent stake in NextStar Energy to LG Energy Solution.
