Fiat-Chrysler Mulls Adding Electric Vehicles to its Line-up

Fiat-Chrysler Mulls Adding Electric Vehicles to its Line-up

Fiat-Chrysler Mulls Adding Electric Vehicles to its Line-up

$FCAM, $TSLA, $VLKAY

Fiat-Chrysler’s (NYSE:FCAM) CEO Sergio Marchionne, 64 anni, is considering adding full electric vehicles to the carmaker’s line-up including the Maserati Alfieri sportscar and a small City Car.

“I have always thought the economic model that supports Tesla is something that Fiat Chrysler could replicate as we have the brand and the vehicles to do it,” Mr. Marchionne said over the weekend. “I think that to use one of our potential cars as an experiment in this area is interesting.”

Fiat Chrysler Automobiles NV’s expansion into the EV (electric car) business would follow Volkswagen AG’s (OTCMKT:VLKAY) plans to accelerate efforts to adapt to the industry’s shift toward self-driving EV’s.

Volkswagen has mapped out a strategy overhaul focused on electric cars, automated driving and services such as ride-hailing in an effort to emerge from the diesel-emissions scandal that has weighed on the company for that last several months.

Fiat is considering producing an electric city car for the European market, which would be the 1st electric model sold in the region.. Fiat currently sells an electric version of its 500 subcompact only in its North American market.

Mr. Marchionne said in Y 2014 that the carmaker was losing at least $10,000 on every 500e it sells to comply with California emission rules.

He also said the carmaker will introduce more hybrid vehicles, including the Maserati Levante sport-utility vehicles. He expects carmakers to offer hybrid versions on most models to meet emission targets by Y 2021.

Maserati, which showed an Alfieri prototype at the Geneva car show in Y 2014, does not plan to introduce a full electric version of the model before the end of the company’s 5 year plan which ends in Y 2018. The electric Alfieri is noy scheduled until after he retires as CEO of Fiat Chrysler in Y 2019.

“I’m not as convinced as some others are about the fact that electrification is the solution for all of man’s ills,” said Mr. Marchionne. “We need to experiment as we are doing now with connected cars and mobility as electrification is one of the potential answers.”

Symbol Last Trade Date Change Open High Low Volume
NYSE:FCAM 66.41 20 Jun-2016 2.30 63.78 66.41 63.78 47,800
Analysis Overall Short Intermediate Long
Neutral (-0.20) Neutral (-0.00) Neutral (-0.04) Very Bearish (-0.55)

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