Stellantis has announced a significant financial writedown of 22.2 billion euros ($26.5 billion) as it scales back its electric vehicle (EV) ambitions, a move that has drastically impacted its stock value. According to Tribune Latest, Stellantis' shares plummeted by as much as 30%, reaching their lowest point since the merger of Fiat Chrysler and Peugeot maker PSA in 2021. This writedown, which now exceeds the company's market value, reflects the broader challenges faced by Western automakers, who are struggling to balance investments between EVs and traditional petrol models amidst increasing competition from Chinese manufacturers and changing trade policies. The decision comes in response to the rollback of subsidies under the Trump administration and a weaker-than-expected demand for EVs, as noted by BBC and Fox Business. The sentiment across these sources is largely negative, highlighting the financial strain and strategic missteps in the EV market.