Automaker Stellantis said on Friday it expects to take a roughly 22-billion-euro ($26 billion) hit as it overhauls its business to accelerate the rollout of electric and hybrid vehicles.
The Jeep maker also pre-released some figures for the fourth quarter, saying it anticipates a net loss for 2025. In recognition of that net loss, it has suspended its dividend for 2026 and plans to raise up to 5 billion euros by issuing hybrid bonds.
For 2026, the auto giant is targeting a mid-single-digit percentage increase in net revenue and a low-single-digit increase in its adjusted operating income margin.
“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,” said Stellantis CEO Antonio Filosa in a statement.
“They also reflect the impact of previous poor operational execution, the effects of which are being progressively addressed by our new Team.”
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