Following a significant shakeup at Stellantis, the automaker has been making major changes to its electric vehicle (EV) strategy. As part of this shift, plug-in hybrids have been killed in North America and the fully electric Ram 1500 REV model has been axed.
2 billion charge related to its transition towards offering internal combustion engines, hybrids, and EVs. The move is part of a larger announcement, where Stellantis revealed a "reset of its business," which will be further explained during the company's Investor Day event on May 21.
The CEO, Antonio Filosa, stated that the reset aims to make customers and their preferences the guiding star for the company's decisions. 4 billion attributed to re-aligning product plans with customer preferences and new emission regulations in the United States.
5 billion hit to resize its EV supply chain. The company's decision to dial back on EVs is also reflected in its reduced expectations for battery electric vehicle (BEV) products.
With these significant changes, it seems that Stellantis' big bet on EVs may have been a costly mistake.
This shift in strategy highlights the importance of understanding customer needs and preferences in the rapidly changing automotive industry. It's clear that Stellantis has learned from its past mistakes and is taking steps to adapt to the evolving market landscape.
