Stellantis shares crash 24% after announcement of $26 billion EV-linked charges. Here’s what CEO Antonio Filosa said
Stellantis NV shares dropped the most on record after the automaker announced €22 billion ($26 billion) in charges related to reversing its electric vehicle plan. The writedowns include nearly €6.5 billion in cash payments primarily to compensate suppliers, highlighting similar actions taken by rivals such as Ford Motor Co. and General Motors Co. The manufacturer…