Stellantis swings to €22 billion annual loss on EV write-downs

Carmaker Stellantis reported a massive loss for 2025 after heavy write-downs tied to its changing electric vehicle strategy.

The Amsterdam-based company said it posted a net loss of €22.3 billion ($26 billion).

The multi-brand group - which includes Fiat, Opel, Peugeot, Chrysler, Alfa Romeo and Jeep - had recently warned that it would be forced to take significant impairments following changes to electric vehicle policy under President Donald Trump and the resulting slowdown in demand in its key US market.

Total write-downs for the year ultimately reached €25.4 billion.

Even excluding these one-off charges, Stellantis came under pressure in its core operations and reported operating losses due to pricing pressure in both North America and Europe. North America had previously generated the bulk of the group's profits through its pickup trucks and SUVs.

Chief Executive Officer Antonio Filosa, who took on the job last June, has launched a sweeping restructuring that is expected to weigh on the group with multi-billion-euro costs for years.

Stellantis said free cash flow in its vehicle business is not expected to turn positive again until 2027.

The company is now scaling back some electric models, expanding its offering of combustion-engine and hybrid vehicles, and restructuring production and supply chains.

The strategic shift follows the removal of electric vehicle subsidies and changes to emissions regulations under Trump. Other US automakers, including General Motors and Ford, have also taken multi-billion-dollar write-downs related to their EV strategies.