Fiat Chrysler Automobiles will invest $10.5 billion to electrify a total of 30 vehicles by 2022, 14 of which will be Jeeps, The Detroit News reports. The investment was revealed during the last Investor Day presentation of CEO Sergio Marchionne‘s long career, as the 65-year-old looks to retirement in April of next year. He says his replacement will come from within FCA’s own ranks.
Marchionne has long been critical of large investments into electrification of the sort that Ford and General Motors have announced. At the 2018 Detroit Auto Show, he said that FCA would remain more “technology neutral” than some of its competitors, remarking that proclamations about the imminent rise of electrification and autonomy were “at best are conjecture.”
“So making an announcement… that we’re going to have X-number of vehicles that are electrified in the future… is that a wise economic thing to say? The answer is probably ‘no,'” the CEO said then.
Chrysler’s plug-in Pacifica Hybrid minivan will serve as a model for implementation as FCA brings widespread electrification to Fiat, Jeep, Ram, and Maserati. The former brand will be especially important for electrification in Europe as FCA phases out diesel engines in its passenger cars. Of the 14 new electrified models Jeep will receive, four will be pure, battery-electric vehicles, and by 2021, every single Jeep nameplate will offer one or more electrified powertrain options.
Maserati, meanwhile, will head full-speed into an electrified future with a new plan called “Maserati Blue”. Under the plan, both the Quattroporte and Levante will gain electrification options, and the long-awaited Alfieri will finally land, to serve as an electrified halo car capable of breathtaking performance.
Missing from the presentation was any information on what FCA intends to do to electrify the Chrysler and Dodge brands, but nor was any indication given that either brand is at risk of being left behind. Instead, Marchionne chose to concentrate his presentation on Jeep, Ram, Maserati, and Alfa Romeo as they “comprise the most significant portion of our revenues and our earnings.”
(Source: The Detroit News)