Stellantis has announced it will take a €22 billion loss and sell off its share in a battery partnership. The carmaker said these costs come from misjudging how fast drivers would switch to electric cars and from internal mistakes in running the business.

Nearly €15 billion of these charges are tied to changing its product lineup to match what American shoppers want and the latest US rules to follow. This includes pulling the plug on the planned electric version of the Ram 1500 truck. Stellantis also confirmed it will not pay out a dividend to shareholders in 2026. Following the news, the company’s stock price dropped nearly 19% in early trading. Analysts mentioned in the report believe Stellantis may still need to look at closing factories and cutting back on production.