Stellantis, the maker of Jeep cars, is facing financial losses due to investments in electric vehicles. The company has booked charges of $26 billion, making it the latest automaker to experience financial strain from investing in EVs that Americans are slow to adopt. Stellantis shares have dropped by 25% to their lowest level since its creation in 2021, when Fiat Chrysler Automobiles merged with PSA Group’s Peugeot maker.
Source: https://www.wsj.com/business/jeep-maker-stellantis-books-26-billion-charge-in-strategy-reset-54ac32bf