Stellantis shares slump over 20% after $26.5 billion EV-related writedown
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The logo of Stellantis is seen during the Automotive Industry Day summit in Paris, France, November 4, 2025. REUTERS/Sarah Meyssonnier
By Enrico Sciacovelli
Feb 6 (Reuters) - Stellantis shares tumbled on Friday after the carmaker booked charges of around 22.2 billion euros ($26.5 billion) in the second half of 2025, related to the scale-down of its electric-vehicle ambitions.
Shares of the Franco-Italian group fell up to 24% to 6.17 euros in Milan, hovering around their lowest price since May 2020. Its Paris-listed shares were also down 23.9%.
If the losses hold, the stock will see its biggest one-day drop on record, as Friday's losses wipe off more than 5 billion euros from Stellantis' market capitalisation, according to LSEG data.
"The bill comes due. The market amplifies everything and it's been surprised by the announcement of these data outside of the expected release of the FY results," a Milan-based trader said.
Broker Equita said in a note the writedown was well above its initial expectations of more than 2 billion euros.
The Milan-listed shares had failed to start trading at market open and were halted momentarily after an initial 14% drop, as Stellantis indicated a preliminary loss of 19-21 billion euros for the second half of 2025 and said it would not pay a dividend this year.
Shares of Exor, Stellantis' top investor and the holding company of Italy's Agnelli family, fell nearly 5% and were at the bottom of Amsterdam blue-chip index.
Stellantis' CEO and finance chief will host a call at 1300 GMT to discuss the preliminary results. The carmaker's full-year report is scheduled to be released on February 26.
(Reporting by Enrico Sciacovelli, additional reporting by Vera Dvorakova, Amanda Cooper and Giancarlo Navach; editing by Milla Nissi-Prussak)
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