Stellantis (NYSE:STLA) shares were in “drive” Thursday, on new developments with one of its vehicles. The company said Wednesday it will further delay an all-electric Ram pickup from 2025 until 2026, as the automaker confronts slower-than-expected adoption of EVs and competitors struggle to make profits on electric trucks.
The decision to delay the full battery-electric model, which had already been postponed from this year, will help in prioritizing an electric range-extended version of the truck called the Ramcharger that features a gas engine combined with EV technologies, the company said.
“The decision to launch Ramcharger first was driven by overwhelming consumer interest, maintaining a competitive advantage in the technology and slowing industry demand for half-ton BEV pickups,” Ram said in a release.
Ramcharger will be open for customer orders in the first half of 2025, followed by the Ram 1500 REV launch in 2026, Stellantis said.
The change in priorities is the first major announced shift since Ram CEO Tim Kuniskis returned earlier this month, following a management shake-up that included Stellantis CEO Carlos Tavares leaving the company.
Kuniskis had retired from Stellantis in May before coming back to the automaker. He said earlier this month to expect changes for the embattled brand, which reported a 24% sales decline through the third quarter of this year.
STLA shares hiked 18 cents, or 1.5%, to $12.98.