Stellantis(US:STLA) 智通财经网·2026-02-06 08:33Core Viewpoint - Stellantis NV is undergoing a comprehensive restructuring due to high costs and weak electric vehicle sales, resulting in a provision of approximately €22 billion (about $26 billion) [1] Financial Impact - The restructuring plan is expected to lead to a net loss of €19 billion to €21 billion in the second half of 2025, prompting the company to suspend shareholder dividends for 2026 [2] - Of the total €22 billion provision, around €6.5 billion will be cash expenditures over the next four years, despite a significant portion being non-cash impairments [2] - The company plans to divest its 49% stake in the NextStar Energy battery joint venture to LG Energy, involving approximately €2.1 billion [2] Strategic Shift - Stellantis is shifting from an "all-electric" vision to a "multi-energy balance" strategy, prioritizing profitability and consumer choice over a singular focus on electric vehicles [3] - The company will increase investments in internal combustion engine technology and hybrid products, while some low-margin electric projects will be canceled or indefinitely postponed [3] - Since taking over as CEO, Antonio Filosa has been reforming the company to regain market share and reduce costs associated with electric vehicle tariffs [3] Operational Performance - The company reported improved revenue and industrial free cash flow for the second half of 2025, aligning with market expectations, although actual performance remains subject to fluctuations due to one-time factors [4] - The operating profit margin for the second half is expected to be below the previously guided low single-digit range (1%-3%) [4]