New York, Feb 9, 2026, 05:17 EST — Premarket
- Stellantis shares tumbled 23.7% Friday after the automaker warned investors about taking a multibillion-euro charge linked to an EV reset.
- ACC has informed unions it’s putting plans for gigafactories in both Italy and Germany on ice.
- Feb. 26 results are on deck, with investors zeroing in on cash outflows, margins, and just how quickly the new strategy is taking shape.
Stellantis will draw attention before the U.S. opening bell Monday, after its battery joint venture Automotive Cells Company (ACC) informed unions it’s scrapping plans for gigafactories in both Italy and Germany.
This lands as a tough break for the Jeep maker. Investors are still puzzling over the scale of the electric-vehicle retrenchment—and more to the point, how much actual cash it’ll drain from the company this year, beyond just the headline accounting charges.
The move chips away at a crucial element of Europe’s plan for a domestic battery supply chain. For Stellantis, this stings. The automaker has put “flexibility” front and center — pushing hybrids, sticking with combustion models — yet still holding on to the EV option if demand rebounds.
Stellantis’ New York shares tumbled 23.7% last session, settling at $7.28. 1
ACC pulled the plug on planned sites in Termoli, Italy, and Kaiserslautern, Germany, according to a weekend disclosure. Both locations had been idle since May 2024. The company said the conditions needed to reopen just weren’t coming together. Stellantis, for its part, said it was still “fully mobilised” to gauge the fallout—industrial and social—and stuck with its stated commitments on engines and gearboxes in Termoli. 2
Stellantis shares tanked Friday after the automaker revealed massive charges—22.2 billion euros ($26.5 billion)—linked to pulling back on its electric vehicle push. The company also flagged a preliminary net loss for the back half of 2025, somewhere between 19 and 21 billion euros, and scrapped its dividend for this year. CEO Antonio Filosa admitted prior expectations were “over optimistic,” pointing to what he called “an important strategic reset.” Russ Mould, investment director at AJ Bell, didn’t mince words either; he said the write-down highlighted just how badly Stellantis “got it wrong” on the pace of the EV transition. 3
Stellantis isn’t alone here. Around the world, automakers have been taking hefty write-downs, pulling back on EV ambitions as demand softens, subsidies change, and rivals—Chinese firms among them—step up the pressure. 4
The risks here aren’t hard to spot. Stellantis faces a dilemma: scale back too aggressively, and a surprise EV demand surge could leave it scrambling, short on inventory and production muscle. But hold the line on spending, and investors might keep hammering the balance sheet for investing before demand shows up. The company’s big bet on lucrative U.S. trucks? That still leaves it at the mercy of North America’s economic swings.
Traders are steeling themselves for a potentially choppy ride as Feb. 26 approaches. That’s when Stellantis is set to reveal deeper details on its 2026 revenue outlook, margins, and cash generation. The big question: just how extensive will the company’s battery and EV overhaul turn out to be?
