Not long ago, electric vehicles (EVs) were heralded as the inevitable successors to gas-powered cars, promising a green revolution on wheels. Automakers dove headfirst into the hype, unveiling ambitious blueprints for fleets of battery-powered models and pouring billions into factories, batteries, and tech to spearhead the shift. Yet, consumer enthusiasm never matched the buzz—range anxiety, high costs, and charging woes kept buyers at bay. The tipping point came when U.S. government subsidies evaporated ...

US stocks rebounded on Friday from a weeklong tech bruising as Wall Street reassessed worries about the impact of AI disruption and the risks of hefty Big Tech spending. The Dow Jones Industrial Average (^DJI) led the way higher, surging by about 2.5%, or more than 1,200 points, to climb ahead of the 50,000 level for the first time. The S&P 500 (^GSPC) rose 2% in its best session since May of last year. The Nasdaq Composite (^IXIC) added about 2.1%, as the indexes bounced back from Thursday's sharp closi ...

Experts saw Stellantis’s statement as a stark admission it has botched its move to go electric - Vauxhall Motors The owner of Vauxhall shed a quarter of its value on Friday as it admitted it had lost sight of “real world” drivers in its disastrous shift to electric vehicles (EVs). In a statement that sent shares tumbling, Stellantis announced a major reset of the business accompanied by a painful €22bn (£19bn) hit to its balance sheet. Antonio Filosa, the chief executive, blamed the one-off charge on “ ...

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Core Viewpoint - Stellantis shares fell over 25% following a warning of a "major EV reset" leading to a €22.2 billion ($26.5 billion) impairment charge, and the company suspended its full-year dividend to preserve its balance sheet [1] Financial Impact - The €22.2 billion charge exceeds Stellantis' entire market capitalization, indicating that the market values the company at less than the projected cost of its electric vehicle mistakes [4] - Stellantis stock is down more than 35% from its year-to-date high [2] Investor Sentiment - The suspension of the dividend until 2026 may lead to a mass exit of income-focused investors, potentially sustaining downward momentum in the stock [5] - Analysts rated Stellantis shares at "Hold" prior to the warning, with expectations of downward revisions to estimates due to the impairment charge [10] Market Position - Stellantis is struggling against competitors like Ford and General Motors, which have gained market share while Stellantis faces quality issues [6] - The company has an excessive 90-day supply of inventory, nearly double the healthy industry standard, which may hinder profit margin improvements [7] Technical Analysis - Stellantis shares are trading below key moving averages, indicating bearish control across multiple timeframes [5] - The lowest price objective for Stellantis NV is currently set at $6, suggesting a potential downside of another 17% [10]

Core Viewpoint - Stellantis has announced significant write-offs due to lower-than-expected demand for electric vehicles, leading to a sharp decline in its stock price by approximately 24.5% [1] Financial Impact - The company reported charges totaling 22.2 billion euros ($26.5 billion), primarily related to downsizing its electric vehicle (EV) plans and addressing quality issues [2] - Stellantis anticipates an operating loss of 1.2 billion to 1.5 billion euros for the second half of 2025, and has suspended dividend payments [3] Product Strategy Changes - Stellantis has canceled the planned battery-electric version of its full-size Ram pickup truck, reinstating orders for the Ram 1500 with the Hemi V-8 engine [5] - The write-offs include 14.7 billion euros for product-plan changes, 2.1 billion euros for downsizing the EV supply chain, and 5.4 billion euros in other charges related to warranty work and quality improvements [6] Market Context - Other automotive companies like Ford and General Motors have also announced similar adjustments to their EV strategies, but Stellantis's financial impact has been notably more severe [2]

Group 1 - LG Energy Solution (LGES) will take full control of NextStar Energy, a joint venture that established Canada's first large-scale EV battery factory in Windsor, Ontario, with Stellantis selling its 49% stake [1] - The ownership transition is a strategic decision made by LGES and Stellantis, aimed at ensuring a seamless transition and enhancing long-term growth prospects for NextStar Energy [2] - NextStar Energy will utilize LGES's technological leadership and operational expertise to better serve a wider customer base, including the Energy Storage System (ESS) industry, and to adapt to market demands [3] Group 2 - The facility has seen over $5 billion CAD invested and currently employs over 1,300 people, with a target of reaching 2,500 employees as production scales up [4] - NextStar Energy is positioned to strengthen North America's battery manufacturing ecosystem by onshoring critical capabilities to meet the needs of the automotive sector and other strategic industries [5] - LGES views the full ownership of NextStar Energy as a means to capitalize on growth opportunities in North America and to secure additional customers in the EV industry [6]

Core Insights - Stellantis experienced a historic decline, dropping over 25% in a single trading session, marking its worst performance since the 2021 merger of Fiat Chrysler and PSA Group [1] Company Performance - The significant drop in Stellantis's stock price indicates severe market reaction, reflecting investor concerns about the company's future prospects [1] - This decline is unprecedented for Stellantis, highlighting potential underlying issues within the company or the broader automotive industry [1] Industry Context - The automotive industry is facing various challenges, which may have contributed to Stellantis's stock performance, including supply chain disruptions and changing consumer preferences [1] - The merger of Fiat Chrysler and PSA Group aimed to create synergies and enhance competitiveness, but the current market reaction raises questions about the effectiveness of this strategy [1]

Core Viewpoint - Stellantis announced a $26.5 billion charge due to a reduction in electric vehicle (EV) production, reflecting a misjudgment of consumer demand for EVs, which is larger than similar charges taken by Ford and General Motors [1][6]. Group 1: Company Strategy and Leadership Changes - Stellantis had ambitious EV goals under former CEO Carlos Tavares, aiming for EVs to constitute 100% of European sales and 50% of U.S. sales by 2030, but he was ousted in 2024 after a significant drop in U.S. sales [2]. - The new CEO, Antonio Filosa, acknowledged that previous assumptions about EV demand were "over optimistic" and emphasized a strategic reset to focus on customer preferences globally and regionally [5]. Group 2: Financial Impact and Market Response - The $26.5 billion charge includes costs related to quality issues and a reduction in the EV supply chain, as well as adjustments to warranty provisions due to poor product quality and job cuts in Europe [6][7]. - Following the announcement, Stellantis shares fell over 22% in New York and more than 23% in Milan, indicating a negative market reaction to the news [10][11]. Group 3: Industry Context and Future Projections - Fully electric vehicles accounted for 19.5% of European sales and only 7.7% of new U.S. car sales last year, highlighting the challenges faced by automakers in transitioning to EVs [5]. - Stellantis forecasts a mid-single-digit increase in net revenue for 2026 and a low-single-digit adjusted operating income margin, with expectations of positive industrial free cash flows by 2027 [11].

PresentationHello, and welcome to the Stellantis Preliminary Results H2 2025 call. [Operator Instructions] I now give the floor to Mr. Ed Ditmire, Head of Investor Relations, to begin today's conference. Sir, the floor is yours.Edward DitmireHead of Investor Relations Thank you. Hello, everyone, and thank you for joining us today as we review Stellantis' H2 2025 Preliminary Financial Results. The presentation material for this call along with the related press release were posted under the Investors section ...