Once you go EV you WILL go back to Gas engines

[TheButcher]

Stellantis yet another car company that found out people do not want those pesky electric vehicles, and now it's cost them $26 Billion.

Long live the V8 engine!



"London —

Stellantis, the owner of Jeep and Chrysler, announced a “reset” of its business after its enormous investments in electric vehicles failed to pay off.

The company said Friday that it would take charges of more than $26 billion, the bulk of which includes write-offs and cash payments for canceled EV products and costs of resizing its EV supply chain.

The announcement sent Stellantis (STLA) shares crashing. They fell as much as 30%.

The strategy revision follows similar — and expensive — actions from Ford and General Motors in recent weeks.

Many carmakers in the United States had invested heavily in EV plans in response to strict environmental regulations put in place by the Biden administration. They also expected some states to follow California and ban sales of gasoline-powered vehicles within a decade.

But the Trump administration has rolled back those emissions rules along with financial support for EVs. It is also challenging states’ authority to set their own tougher rules.

Commenting on the charges of €22.2 billion ($26.2 billion), Stellantis CEO Antonio Filosa said they “largely reflect the cost of over-estimating the pace of the energy transition.”

The company also said in a statement that the shift to EVs “needs to be governed by demand rather than command.”

“Stellantis is committed to being a beacon for freedom of choice, including for those customers whose lifestyles and working requirements make the company’s growing range of hybrid and advanced internal combustion engine vehicles the right solution for them,” the company added.

Underlining its dimmer forecast for EV demand, Stellantis said the bulk of the charges — €14.7 billion ($17.37 billion) — related to “re-aligning product plans with customer preferences and new emission regulations in the US.”

The company is due to report its earnings for 2025 on February 26. But on Friday it revealed a net loss for the year and said it would not pay an annual dividend in 2026 as a result.

Filosa struck a more optimistic note for the current year, saying on an earnings call Friday that Stellantis would be profitable throughout 2026. "


https://www.cnn.com/2026/02/06/business ... t-evs-intl

[gspotman]

How did so many companies miscalculate the market

[Cars-n-Chicks]

So much profits wiped out by these companies over electrification share holders must hate the decision to go EV.

[Nakedtruth]

The saying goes.....Once you go black you never go back !!!!!!

[jag]

The saying goes.....Once you go black you never go back !!!!!!

The kardashian and Jenner sisters seem to support that notion, is Kim now with Lewis Hamilton.

[TheButcher]

Honda is not exempt from having to write off investments they made into EV's and lost


https://www.motortrend.com/news/honda-e ... s-earnings

[urbanlegend]

The saying goes.....Once you go black you never go back !!!!!!

The kardashian and Jenner sisters seem to support that notion, is Kim now with Lewis Hamilton.

Including Kris