Fiat Chrysler has been making occasional hybrid only. But now it has decided to gear up and release 30 EVs in 5 years, some kind of electrification within 2022. The vehicles will be either a full EV, a plug-in hybrid or a conventional hybrid. The company has invested $ 10.5 million dollars in this 5 year project.
Sergio Marchionne, CEO of Fiat Chrysler , said that majority of his vehicles will be fossil fuel powered. “Reducing our dependence on oil is one of the single, greatest challenges that our society faces,” Marchionne told the financial analyst, when he presented his 5 year electrification plan project. He announced this on 01 st June, 2018 on Capital Market’s Day, as he presented his final presentation before retiring as the CEO of Fiat Chrysler.
He further added , “At FCA, we believe there is no single solution, no magic formula, to solve this problem. We believe to achieve a quantum leap, the entire system – political, economic and industrial – needs to work together with the right measure of realism based on finding the appropriate balance between consumption levels, cost and efficiency. At the same time, conventional internal combustion engines will continue to be in the vast majority of our production. The obligation is on us to try to make sure fuel consumption associated with larger vehicles match market expectations.” He also acknowledged , “we found it a lot more difficult to try to penetrate the premium market than we thought”.
Chief Technical Compliance Officer, Mark Chernoby, said that FCA Pacifica PHEV, Ram 1500 mild hybrid and Jeep Wrangler mild hybrid are the only ones available in the market now. The 500e electric vehicle is also sold by the company to meet California regulations. This entire planning might be the result of ban gas powered car in Paris, so the urgent need of introduction of electric powered vehicles.