Stellantis announces $26 billion hit from business overhaul; shares plunge [MSNBC.com]
Stellantis N.V. Common Shares (STLA)
Company Research
Source: MSNBC.com
In this articleStellantis logo is pictured at one of its assembly plants following a company's announcement saying it will pause production there, in Toluca, state of Mexico, Mexico April 4, 2025.Henry Romero | ReutersShares of automakerIn Milan, the company's Italian shares fell 25% Friday. On Wall Street, the transatlantic firm's New York-listedstockOther French auto stocks also fell Friday morning, withValeoForviaRenault"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."Going forward, Stellantis said it would remain at the forefront of EV development, but said its own electrification journey would continue at "a pace that needs to be governed by demand rather th
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