Automaker Stellantis mentioned on Friday it expects to take a roughly 22-billion-euro ($26 billion) hit because it overhauls its enterprise to speed up the rollout of electrical and hybrid automobiles.
“The fees introduced as we speak largely replicate the price of over-estimating the tempo of the vitality transition that distanced us from many automotive patrons’ real-world wants, means and needs,” mentioned Stellantis CEO Antonio Filosa in a press release.
“Additionally they replicate the influence of earlier poor operational execution, the consequences of that are being progressively addressed by our new Group.”
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