--- title: "Stellantis Takes $26 Billion Loss Due to EV Flip-Flop: TDS" date: "2026-02-26" modified: "2026-02-26" authors: - name: "Joel Feder" job_title: "Director of Content and Product" link: "https://www.thedrive.com/authors/joel-feder" url: "https://www.thedrive.com/news/stellantis-takes-26-billion-loss-due-to-ev-flip-flop-tds" categories: - "News" - "The Downshift" --- # Stellantis Takes $26 Billion Loss Due to EV Flip-Flop: TDS ![2025 Jeep Wagoneer S]() *\Joel Feder\ ย * Good morning and welcome to *The Downshift*, or *TDS* for short. Quick, dense, and lacking fluff, *TDS* gathers the latest automotive headlines from around the globe and places them in one spot. Stories are summarized in a single sentence accompanied by a link for those seeking more information. I'm in Montana and am already two cups of coffee into the day. Let's get into it. ๐Ÿš˜ What Iโ€™m driving: Left the Toyota 4Runner TRD Off-Road Premium at the airport yesterday but plan to go sideways, hopefully, in the snow today in something fun. We'll see. ๐Ÿ’ธ [Stellantis reported]() its first annual net loss since its founding with a $26 billion hit attributed to its EV strategy that's now being walked back; the automaker said it targets profitability this year hinging on gas-powered models with Hemi V8s, turbo-sixes, and hybrids in the form of trucks, SUVs, and muscle cars, though the [Pacifica refresh]() is imminent. ๐Ÿ”‹ Stellantis is also reportedly considering [tapping China]() for low-cost EV technology for its European brands. โ›ฝ๏ธ Porsche's three-row SUV, known by the codename K1, was supposed to be all electric but will now be [gas powered with a V6 or V8]() and arrive as a sportier twin to the upcoming [Audi Q9](). ๐Ÿš™ Nissan reportedly is planning to take a page out of Toyota's playbook with [two different variants of the Pathfinder](); it's said that the current unibody model will live on with a fresh alongside the upcoming body-on-frame off-road model, which will be pitched as a more expensive, capable, and premium offering to the family-oriented crossover variant. ๐Ÿ”Œ The [2027 Volvo EX30 is getting a few mild updates]() including vehicle-to-load (V2L) capability to power devices via an adapter using the car's high-voltage battery pack. โ›ฝ๏ธ Reportedly [96% of NYC gas stations failed inspections]() between 2023 and 2025 due to having the wrong octane numbers posted on pumps leading to a host of issues. ๐Ÿš• Tesla CEO Elon Musk has been touting driverless Robotaxis for California but [new documents reveal ]()the automaker's done nothing in terms of securing permits or logging miles of autonomous test driving for the self-driving cars in the Sunshine State. ๐Ÿท๏ธ A [Cadillac Celestiq surfaced for sale ]()for $499,950. *Got a news tip or feedback? Drop us a line at tips@thedrive.com* ## Author Overseeing what you see, read, touch, hear, and interact with from the vast lakes of Minnesota, Joel Feder shapes how The Drive looks and operates as the head of content and product initiatives. On a daily basis, Joel leads the newsroom and editorial staff playing point on both short-term coverage and long-term strategic plans. His mission is to help ensure The Drive shapes the future of automotive media by helping the team execute original reporting, breaking news, and exclusive opportunities. Regarded as an industry insider and recognized by colleagues, fellow journalists, and manufacturers as a point-person and leader in the industry, Joel owns and runs the largest automotive professionals group on Facebook in an effort to serve and help others. Joel serves as a juror for the World Car Awards. In addition, he is the board chair and chair of the governance and nominating committee for Move Forward MN, a local non-profit that helps at-risk youth with barrier-free mental health and housing services. While youโ€™re reading this heโ€™s either on his computer or iPhone chasing the latest news or drafting a story. ### Author social links [Instagram]() [LinkedIn]() [Bluesky]() [Email]()