Stellantis restructures its electric vehicle business or faces a loss of 180 billion yuan.

Automaker Stellantis Group recently announced its plans to restructure its electric vehicle business, which is expected to result in approximately 22.2 billion euros in losses. Following the news, Stellantis' stock prices in Milan and New York plummeted by over 20%. In 2021, Fiat Chrysler merged with Peugeot Citroen to form Stellantis Group, which briefly became the world's fourth largest automaker by production volume. In recent years, Stellantis Group has been struggling with declining sales and poor profitability, with data showing that its global market share dropped to about 6.1% last year.