FCA’s CEO not keen at all to follow the electric trend

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While Fiat-Chrysler’s head Sergio Marchionne does not believe at all that an electric car may bring profit, he has the opposite perception on autonomous technologies.

Sergio Marchionne has not been too impressed by the excitement triggered by Tesla’s Model 3, which gathered around 373,000 reservations. The “exotic” executive has never believed that the ongoing electrification movement is a good one for business and he has always looked for the most profitable products, as Fiat-Chrysler aims to clean all its debt by 2018. Speaking in an interview with Car Magazine, Marchionne pointed out that the classic combustion engine will still be an important driver of mobility in the near future and the hype around Tesla’s upcoming 35,000-dollar electric car reminds him of the internet bubble.

“There is nothing Tesla do that we cannot also do,” the chief said, but “I’m not even sure you can recover all of your costs – let alone generate a profit – through electrification.” Marchionne already said earlier this year that he would not have any problem on copying Tesla’s formula if the business makes sense, add the Italian design flair and get it to the market within 12 months. “But where is the business model that will work in the long term? People should realise that there is nothing another company cannot replicate,’ he told to the magazine.

On the other hand, FCA’s CEO sees the investments in the driverless area as mandatory and not even expensive. “All this stuff is here to stay, it is going to be available at the speed of light, so we must act like a flash.’

Via Car Magazine