Stellantis has revealed a $26.2 billion write-down as it adjusts its electric vehicle plans to match slower market adoption. The move follows similar actions by Ford and General Motors amid shifting US policies. The company plans to shift focus toward trucks and SUVs with internal combustion engines.
The automotive sector's enthusiasm for electric vehicles has faced setbacks, particularly in the United States, where initial ambitions for rapid adoption have faltered. Stellantis, the parent company of brands including Jeep, Dodge, Fiat, and Peugeot, disclosed on February 6, 2026, that it is resetting its business strategy, incurring a substantial $26.2 billion (22.2 billion euros) write-down.
This adjustment comes after optimistic projections for EV growth, including US commitments to charging infrastructure and the announcement of ten new battery factories. However, lobbying efforts by some automakers and dealers led to policy reversals following the Republican victory in the 2024 election. Incentives for EV purchases were eliminated, funding for high-speed chargers was cut, and stringent emissions standards were relaxed, allowing continued sales of gasoline-powered vehicles without penalties.
Stellantis is not alone in this recalibration. Ford reported a $19.5 billion write-down in December 2025, prioritizing combustion-engine platforms. General Motors announced a $6 billion cost in early January 2026 for scrapping certain EV initiatives.
The Italian-American automaker has trailed competitors in EV development. Projects like a battery-electric Ram truck were canceled, and Jeep's initial US EV offering underperformed. The write-down breaks down as follows: $3.4 billion (2.9 billion euros) for canceled products, $7.1 billion (6 billion euros) for underutilized platforms, $6.8 billion (5.8 billion euros) in cash outflows over four years from contracts, $2.5 billion (2.1 billion euros) for supply chain resizing due to reduced battery needs, $1.5 billion (1.3 billion euros) for European layoffs, and $4.8 billion (4.1 billion euros) for warranty issues.
Stellantis CEO Antonio Filosa stated, “The charges announced today largely reflect the cost of over-estimating the pace of the energy transition that distanced us from many car buyers’ real-world needs, means and desires. They also reflect the impact of previous poor operational execution, the effects of which are being progressively addressed by our new team.”
Looking ahead, the company will invest $13 billion in the US, creating 5,000 jobs to produce more trucks and SUVs, including a V8-powered Ram 1500 pickup, a gasoline Dodge Charger, and additional Jeep models.
