Stellantis Faces $26.5 Billion Loss on Electric Vehicle Bets

A 25 percent hit to its stock value overnight, wiping away millions of dollars in equity, as Stellantis takes a massive write-down on electric vehicle investments. The auto giant’s woes are not unique, but unlike its peers, it appears particularly vulnerable due to an enduring reliance on internal combustion engines and a history of delayed electrification efforts.