Stellantis has written off €1.5 billion (£1.2bn) of investment in Maserati, leaving some future models in doubt.
The decision from Stellantis – which also owns brands such as Vauxhall, Fiat and Jeep – comes amid slower than expected EV demand in the luxury segment as well as a collapse in overall demand at the top end of the Chinese market for global brands. Overall, Stellantis's profits fell by 70% in 2024, while Maserati's sales more than halved from 26,600 units in 2023 to 11,300 last year.
