经济观察网斯特兰蒂斯(STLA.US)近期动态：公司定于2026年2月26日公布2025年完整财报，此前预计 下半年亏损190亿至210亿欧元，并决定暂停2026年股息发放。为维持资产负债表，公司计划发行混合债 券筹集至多50亿欧元。业务方面，公司正缩减电动车布局，包括退出与LG新能源在加拿大的合资企 业，叫停RAM1500纯电皮卡在美国的生产，并推迟Alfa Romeo在欧洲的电动车项目。 以上内容基于公开资料整理，不构成投资建议。 ...

Core Viewpoint - Stellantis, the world's fourth-largest automaker, experienced a significant stock price drop due to an unexpected announcement regarding a comprehensive strategic contraction and restructuring of its electric vehicle (EV) business, leading to a projected non-cash loss of up to $26 billion (approximately €22.2 billion or ¥180.4 billion) [1][2]. Group 1: Financial Impact - The announced $26 billion loss far exceeded market expectations, with analysts initially predicting only a €2 billion loss, indicating a miscalculation in the company's financial outlook [1][2]. - Stellantis plans to incur approximately €6.5 billion in cash payments as part of the restructuring, which is expected to be completed over the next four years [2]. - The total projected costs of €22.2 billion are divided into three parts: €14.7 billion for product plan adjustments and compliance with new U.S. emissions regulations, €2.1 billion related to adjustments in the EV supply chain, and €5.4 billion for other operational changes [2]. Group 2: Strategic Changes - The company has already taken concrete actions, such as exiting its joint venture with LG Energy Solutions in Canada, where it sold its 49% stake [3]. - Stellantis has halted production of the RAM 1500 electric pickup in the U.S. and postponed the Alfa Romeo electric vehicle project in Europe, indicating a shift back to traditional combustion engines in some popular models [3]. - The new CEO, Antonio Filosa, acknowledged that the company had overestimated the speed of the energy transition, leading to a misalignment with consumer demand and preferences [2][3]. Group 3: Industry Context - Stellantis's situation reflects broader challenges faced by traditional automakers in the transition to electric vehicles, with significant losses reported by other major companies like Ford and General Motors, totaling nearly $50 billion due to similar adjustments in EV strategies [3]. - The European automotive industry is struggling with inertia from established supply chains and manufacturing systems, slow charging infrastructure development, and high battery costs, which hinder profitability in the EV market [4]. - Stellantis, formed from the merger of PSA Group and Fiat Chrysler, reported revenues of $204.9 billion in 2024 and ranks 28th on the Fortune Global 500 list [4].