Wall Street Breakfast Stellantis pays $26B for EV bets
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Feb 6, 2026 Stellantis takes a huge $26B charge tied to its EV strategy and pauses dividend plans for 2026. A jury verdict forces Uber to pay $8.5M in a high-profile sexual assault liability case. Bitcoin slips to a 16-month low and top crypto stocks face mixed quant ratings. Markets also react to movers like Roblox, Intel, AMD and big cloud investment plans.
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Stellantis Writes Down Big EV Bets
- Stellantis will book roughly $26.18 billion in charges as it resets strategy amid weak EV demand.
- The move reflects overestimating electrification pace and prior poor execution, says Julie Morgan.
Significant Cash Costs And Program Cancellations
- The $26.18 billion includes about $7.66 billion in cash payments to be made over four years.
- These relate to canceled products, lower-than-expected BEV volumes, and battery capacity rationalization.
Uber Held Liable In Bellwether Case
- A U.S. jury ordered Uber to pay $8.5 million to a woman assaulted by an Uber driver.
- The verdict could affect thousands of similar lawsuits consolidated in federal court.