Stellantis Rout Nears €70 Billion After Surprise Writedowns (3)

Fourteen months after Stellantis NV parted ways with a chief executive officer who surprisedinvestors with wayward results, his successor has pulled a similar move.

CEO Antonia Filosaon Friday announced €22.2 billion ($26 billion) in charges, much of which were linked to unwinding his predecessor Carlos Tavares’ bets on electric vehicles that were destined to be unprofitable.

Antonio Filosa

Photographer: Etienne Laurent/AFP/Getty Images

Beneath that headline figure, though, Stellantis also released far weaker earnings than analysts had anticipated — based in part on reassurance Filosa offered only two months ago. The disclosures sent the Jeep and Fiat maker’s stock plunging 25% intraday ...