Stellantis expects a €2.3 billion loss for the first half of 2025, significantly down from a €5.6 billion profit last year. This downturn is attributed to newly imposed US trade tariffs, decreased vehicle demand in Europe, and the cancellation of its hydrogen fuel cell vehicle program. The company incurred €300 million in costs linked to trade disruption. Stellantis has also announced €3.3 billion in pre-tax charges, stemming from the hydrogen program cancellation and investments in hybrid and petrol-powered vehicles. Other automotive manufacturers, like Renault, are similarly facing market challenges.
"We responded swiftly, but there was a near-term hit to output and sales," Ostermann said.
The cancellation of the hydrogen project marks a dramatic pivot from its ambitions announced just two years ago.
Stellantis booked €3.3 billion in pre-tax charges linked to the termination of its hydrogen fuel cell vehicle programme.
The loss represents a sharp reversal of fortunes for the Franco-Italian-American group, which posted a €5.6 billion profit in the same period last year.
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