CleanTechnica•1 day ago
Stellantis Stumbles In A Staggering EV Retreat
Key Takeaway
A major automotive OEM's $26 billion retreat from EVs signals a potential slowdown in EV adoption projections, impacting future demand for charging infrastructure and grid development for developers and large loads.
AI Summary
- •Stellantis is taking a $26 billion write-down, primarily in North America, due to a significant retreat from Electric Vehicle (EV) production.
- •The company is replacing planned EV production with a return to Internal Combustion Engine (ICE) powertrains, including the 'Hemi' engine.
- •This move by a major automotive OEM signals a potential recalibration of EV adoption rates and associated infrastructure demand, impacting developers of charging infrastructure and grid upgrades.
- •The shift away from EVs could reduce projected electricity demand growth from vehicle charging, influencing long-term power generation and transmission planning.
Topics
emissionsfinancingoempolicy
Article Content
Stellantis announced that it is taking a $26 billion hit associated with backtracking on EVs. The vast majority of the write-down is specific to North America, where Stellantis has essentially given up on plug-in vehicles. EV production is being replaced with a return of ICE powertrains, including the “Hemi.” This ... [continued] The post Stellantis Stumbles In A Staggering EV Retreat appeared first on CleanTechnica .