FCA Announces Big Commitment to EVs | Mississauga Brampton
Posted on March 5, 2019
FCA has announced its biggest commitment yet to the electric vehicle. It’s investing $4.5 billion in a new Detroit assembly plant, dedicated to Jeep and Ram. CEO Mike Manley said the carmaker will be pursuing new opportunities, “including at least four plug-in hybrid vehicles and the flexibility to produce fully battery-electric vehicles.”
That’s not entirely a surprise, as FCA must follow the push of regulators for more energy efficient cars, especially for its Chinese and European markets. Manley said the new vehicles will offer a broad range of powertrains from gas and diesel to mild, conventional and plug-in hybrids and will also offer pure battery-electric drivetrains.
Recognizing that the competition back home in the U.S. will be pushing the market as much as regulators, FCA believes more opportunities will be opening up in North America. Coming up with battery-drive systems that will lure Jeep and Ram drivers over to Electric Avenue is the challenge, but Jeep and Ram have already shown success with the latest versions of the Ram 1500 and the Jeep Wrangler.
As battery costs continue to tumble, the opportunity for profit from FCA’s electric and hybrid vehicles takes a decided turn for the better. And when profits look brighter, so does innovation.
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