Summary
Stellantis is scaling back its electric-vehicle plans after reporting a €22.3 billion loss for 2025, citing lower-than-expected EV demand across markets. The company booked €25.4 billion to reset its strategy, pivoting toward a broader mix of electric, hybrid and internal-combustion models to reflect customer preferences for “freedom to choose.” Net revenues were €153.5 billion, down 2% year over year, pressured by foreign exchange and early-2025 net pricing declines. Management framed the move as a recalibration, pointing to improving momentum and top-line growth in the second half of the year.
Key figures (2025)
- Net loss: €22.3 billion
- Charges set aside for EV reset: €25.4 billion
- Net revenues: €153.5 billion (down 2% vs. 2024)
- Headwinds: FX and net pricing pressure in H1 2025; improvement and a return to top-line growth in H2
Strategy and rationale
- Rebalancing product strategy to emphasize customer choice across EV, hybrid and ICE rather than an aggressive EV-only push.
- Reset reflects rapidly shifting demand and uneven charging infrastructure complicating the transition timeline.
- Presented as a course correction, not a reversal; no specific model changes detailed.
- Focus on execution: improving quality, disciplined launches and aligning pricing and incentives to market conditions.
Operational and market implications
- Dealers to see a product-mix reset: allocation, ordering and incentives aligning with local demand.
- Greater emphasis on models configurable across multiple powertrains to steer customers to the best fit.
- Hybrids—especially plug-in hybrids—positioned as a bridge while charging networks expand.
- No workforce or plant adjustments detailed in the statement.
Outlook for 2026
Management aims to close “execution gaps,” sustain second-half momentum and pursue a “return to profitable growth.” While no revenue or margin guidance was provided, the company expects results to improve as its portfolio and cost base better match demand across powertrains, contingent on maintaining top-line progress and navigating currency and pricing pressures.
