BIT:STLAMAuto
Stellantis Resets EV Plans With Gigafactory Pause And Earnings Uncertainty
Stellantis, ticker BIT:STLAM, is suspending major battery gigafactory projects in Italy and Germany.
The company is recording multi billion euro charges tied to a broad overhaul of its electric vehicle activities.
Management plans to shift towards a more mixed lineup of hybrids, internal combustion models, and EVs.
The reset includes financial losses linked to the EV business and a suspension of the dividend.
These steps affect European operations and employees and point to a reworked long...