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Stellantis EV Writedown Triggers Auto Sector Selloff

Stellantis EV Writedown Triggers Auto Sector Selloff

Author:

Global Cryptocurrency

Published:

2026-02-06 14:00:01

18

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BTCCSquare news:

Stellantis shares plunged 23% in Milan after disclosing a €22 billion charge tied to overestimating electric vehicle demand. The automaker's premarket New York shares fell 21%, dragging Renault, Valeo and Forvia down 1-2% in a sector-wide rout.

CEO Antonio Filosa attributed the writedown to miscalculating "the pace of the energy transition" and acknowledged legacy operational issues. The company suspended its 2026 dividend and plans €5 billion in hybrid bond issuance to stabilize finances.

The reset includes abandoning unprofitable models while investing $13 billion in U.S. operations. Market reaction underscores growing skepticism about traditional automakers' ability to navigate the EV transition.

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