Stellantis: US rejection of the electric car costs billions

The US administration's change in strategy for electromobility is mainly responsible for the write-downs of 26.5 billion dollars (around 22.2 billion euros). This was explained by Stellantis Group CEO Antonio Filosa today at the presentation of the 2025 annual figures in Milan. The US market has changed significantly due to the expiry of purchase incentives, relaxed emissions regulations and the change in political support for electromobility in the USA. Ford and General Motors are also reporting increased depreciation due to market developments.

Filosa bemoans "overinvestment" in battery electric vehicle projects, some of which will now have to be discontinued or restructured as demand and competition wanes. Filosa explicitly states that political changes in the USA are a key factor in the reassessment of EV investments.

Ford had already announced in December 2025 that it would write off 19.5 billion US dollars (around 16.5 billion euros) and plans to cancel or convert several electric vehicle projects. The company cited weaker-than-expected demand and political conditions in the US, including the expiry of the USD 7000 purchase incentive and relaxed emissions standards under the current administration, as reasons.

GM has also written off billions in its EV business. After several rounds, EV-related charges add up to several billion US dollars, such as 6 billion US dollars (around 5.1 billion euros) in the fourth quarter of 2025 alone. General Motos also sees declining demand and the elimination of tax incentives as reasons for the adjustments to production and model decisions. GM emphasizes that the company will continue to adhere to EV models and will not discontinue them across the board due to political conditions. (aum)