Automaker Stellantis posts massive loss, pivots from EV

The group said earlier this month it would incur colossal charges to finance a shift back to combustion engines and away from producing EVs after sales fell well below expectations. US auto giants Ford and General Motors also recently announced multibillion-dollar write-downs as they pull back on EVs, a move sparked by President Donald Trump's scrapping of hefty subsidies. Both the US and the European Union have also relaxed targets on emissions after years of demanding cleaner vehicles. The huge...