Stellantis Rout Nears €70 Billion After Surprise Writedowns

Fourteen months after Stellantis NV parted ways with a chief executive officer who surprised investors with wayward results, his successor has pulled a similar move.

CEO Antonia Filosa on Friday announced €22.2 billion ($26 billion) in charges, much of which were linked to unwinding his predecessor Carlos Tavares’ bets on electric vehicles that were destined to be unprofitable.