Stellantis will record roughly €22.2bn ($26.32bn) in charges in the second half of 2025 while restructuring operations and adjusting its electric-vehicle (EV) strategy.
The group said the items, which are excluded from adjusted operating income (AOI), include about €6.5bn of cash outflows over the next four years.
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They stem from revised product roadmaps, a scaled-down EV supply chain and other operational measures.
Most of the charges – €14.7bn – relate to changes in product plans and compliance with US emissions rules.
This includes €2.9bn of write-offs tied to scrapped projects and €6bn from platform impairments.
Another €2.1bn is connected to battery capacity reductions, while €5.4bn covers additional operational actions such as a €4.1bn rise in warranty provisions and €1.3bn of restructuring expenses, largely linked to job cuts in enlarged Europe.
As part of its reset, the group reiterated a move towards offering hybrids and internal-combustion vehicles alongside battery-electric models and confirmed a series of steps taken during 2025.
These included a $13bn US investment programme spread over four years, the rollout of 10 new vehicles and the termination of projects deemed unlikely to reach profitable scale, among them the planned Ram 1500 BEV.
Stellantis CEO Antonio Filosa commented: “The reset we have announced today is part of the decisive process we started in 2025, to once again make our customers and their preferences our guiding star. 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.”
New and revived models were announced across the Jeep, Ram, Dodge, Fiat and Citroën brands.
The company also reshaped manufacturing and quality systems and recruited more than 2,000 engineers last year, mainly in North America.
Early operating improvements were reported, with second-half 2025 shipments reaching 2.8m vehicles, an 11% increase year on year, and US market share rising sequentially to 7.9%.
The group also pointed to drops of over 50% in first-month vehicle faults in North America and more than 30% in Enlarged Europe since early 2025.
Preliminary results for the period showed estimated net revenues of €78bn-€80bn, a net loss of €19bn-€21bn and adjusted operating income of minus €1.2bn-€1.5bn.
The board decided not to distribute a dividend in 2026 following the 2025 loss and approved the issuance of up to €5bn in non-convertible subordinated perpetual hybrid bonds.
Looking ahead to 2026, Stellantis expects net revenues to rise by a mid-single-digit percentage, a low-single-digit adjusted operating margin and year-on-year progress in Industrial Free Cash Flows.
The outlook includes €2bn of payments linked to the 2025 charges, with a return to positive industrial free cash flows (IFCF) targeted in 2027.
