By Paul Homewood
h/t Ian Magness
Stellantis has many problems, but wasting money on hydrogen and EVs has not helped!
From the Telegraph:
The owner of Vauxhall has slumped to a €2.3bn (£2bn) loss after cancelling an expensive bet on hydrogen-powered vehicles and electric cars.
Stellantis, which also owns Fiat and Peugeot, said scrapping plans for a fleet of hydrogen-powered vans as well as soaring restructuring costs and the impact of Donald Trump’s trade war would push it into the red for the first half of 2025.
In results on Monday, it reported a €3.3bn hit to costs because of the cancelled hydrogen plan as well as plans to divert spending from electric to hybrid vehicles.
Stellantis had planned to launch a range of hydrogen vans this year under its Pro One division, which were poised to be built in France and Poland.
However the plans were ditched after being deemed too “niche” and expensive. The company’s European operating chief, Jean-Philippe Imparato, said last week the hydrogen market had “no prospects of mid-term economic stability”.
Full story here.
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July 22, 2025 at 03:18AM
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