Stellantis CEO: "the assumptions about electric cars were wrong, so we listened to the market and revised our strategy."

Antonio Filosa is definitely not a man to mince his words. A month after he criticized european rules deemed "bad" for the automotive industryCEO of Stellantis took advantage of Goldman Sachs Industrials & Autos Week to make a clear admission that many automakers were thinking but not daring to say: internal forecasts on the electric transition were simply wrong. And the group has already profoundly reoriented its strategy.

"Some assumptions were wrong

Asked about Stellantis' American and European trajectory, Antonio Filosa acknowledged a major discrepancy between the internal projections made in recent years and market reality. The group once envisaged 50 % electric penetration in the US by 2030. Today, the market has still not passed the 6 % mark. As for Europe, the idea of reaching 100 % electric by 2035 now seems too optimistic, given actual demand and purchasing power. "Some assumptions were wrong, but we listened to the market", he assumes. In the space of four months, Stellantis says it has reviewed its product and investment strategy.

Hybrids once again become a strategic weapon

And the most obvious example comes from the United States. Long considered to be the natural home of electric vehicles for Stellantis, the North American market is rediscovering hybrids... and even V8s. The return of the Hemi engine to Ram pick-ups created a commercial earthquake: ten thousand orders in twenty-four hours, fifty thousand in six weeks, to the extent that production had to double. Today, Filosa is convinced that hybrids, and in particular simple hybrids, will become one of the preferred technologies of American motorists.

The success of the Ram V8 is no flash in the pan. The new Jeep Cherokee, completely redesigned after "listening to consumers", arrives in the second largest segment in the United States, where it intends to play a structuring role. Stellantis sees it as a perfect example of product refocusing driven by demand, not by regulatory or marketing dogma.

The United States relaxes, Europe questions

The American dynamic is all the more promising in that it is accompanied by a major political change. The Trump administration has just eased CAFE standards, offering manufacturers greater flexibility. Filosa sees this as an opportunity to rebalance the product mix and capture new demand that no longer existed ten months ago.

In Europe, the mood is very different. Brussels is preparing a long-awaited new regulatory package, but there's no sign yet of any immediate easing. Filosa once again calls for a "balanced and gentle" energy transition, reminding us that a reasonable equation must take into account three pillars: environmental protection, job preservation and affordability.

It also highlights an often overlooked fact: the needs of light commercial vehicles differ profoundly from those of private cars. The high cost of electric power in this segment makes it essential to adapt standards, while opening up to alternative technologies such as synthetic fuels. This contrasts with the more rigid positions taken in recent years (100 % electric, hydrogen, etc.).

Change of method and revised strategy

While Filosa appears to be on the offensive when it comes to the company's technological direction, he is much more cautious when it comes to the financial situation. He assures us that Stellantis is broadly in line with its forecasts at the end of November, but acknowledges that the priority is to return to positive cash flow generation. A few more months of progress "quarter after quarter" will be needed to solidify the company's fundamentals.

Capital Market Day, now scheduled between May and June 2026, will unveil the Group's new strategic plan. This extra time shows management's determination to rebuild a realistic project, based on revised assumptions and a finer reading of the market. Improving launch discipline, controlling inventories and moving upmarket in profitable segments should be the major levers of this reconquest.

A new era for Stellantis?

In just a few weeks, Antonio Filosa will have imposed a clear change of direction: returning Stellantis to a strategy aligned with real demand, market diversity and the economic imperatives of the moment. This approach contrasts sharply with that of his predecessor Carlos Tavares, who was more focused on an accelerated electric transition.

By publicly acknowledging that certain assumptions were wrong, the CEO is sending a rare signal in the industry: that of a company ready to quickly correct its trajectory rather than suffer the consequences of a rigid strategy. The American market is already responding positively. Europe, on the other hand, is still waiting for the framework that will allow it to breathe again. If Brussels relaxes its vision, Stellantis promises to invest more on the continent. If not, the game could be played elsewhere... where consumers dictate the tempo, not regulations.