Stellantis Resets EV Plans with $26b Write-Down and Shifts Valuation

Stellantis is resetting its EV strategy with a $26b write-down, cancelling several EV models, and selling its stake in the NextStar Energy battery plant project. The company is shifting its focus towards gas-powered and hybrid vehicles and preparing a new long-term plan. This move affects Stellantis' balance sheet flexibility, product mix, and capital spending priorities. Investors should watch for future disclosures on model pipelines, battery sourcing, and potential partnerships to assess the company's competition across EV, hybrid, and traditional vehicle segments.