The electric vehicle (EV) revolution, once hailed as the future of transportation, is hitting a wall for Western automakers. Yesterday’s announcement from Stellantis—a staggering $26 billion writedown tied to scaling back EV ambitions—paints a grim picture.

This follows Ford’s $19.5 billion hit in late 2025, as it rationalized EV assets and pivoted to hybrids amid waning demand.

General Motors isn’t far behind, booking around $12 billion in charges after pulling back on EV production, including a $7.6 billion loss in Q4 2025 alone.

Combined, these three legacy giants have swallowed over $53 billion in losses, and that’s without tallying similar pains from European peers like Volkswagen, which is slashing German jobs by 30% by 2030 amid EV market volatility.

These writedowns aren’t accounting quirks; they’re symptoms of a fundamental miscalculation. Western carmakers bet big on EVs, fueled by government mandates and rosy projections of mass adoption. But reality has bitten hard. (RELATED: Chinese Carmaker BYD Dethrones Tesla As World’s Largest EV Manufacturer)

In the U.S., EV sales growth stalled in 2025, hampered by high costs, range anxiety, and the end of federal incentives under the Trump administration. Europe fares little better, with strict EU emissions rules clashing against consumer resistance—EV market share there........

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