Stellantis Posts €22.3 Billion 2025 Loss on EV Write-Downs as Filosa Targets Profit in 2026

Overview

• The company booked €25.4 billion in write-downs, largely in the second half of 2025, tied to scaling back EV capacity and discontinuing unprofitable models.
• About €6.5 billion of those charges will require cash payments spread from 2026 to 2029, straining near-term cash generation.
• Stellantis guided that North America and Europe will deliver positive adjusted operating profit this year, citing order books that ended 2025 at roughly three months of sales.
• The company will not pay a 2026 dividend and expects free industrial cash flow to turn positive in 2027.
• Stellantis is assessing a broader technology tie-up with China’s Leapmotor to cut EV costs, according to Bloomberg, with any deal facing data-protection hurdles and forthcoming U.S. limits on China-linked vehicle technology.