Fiat Chrysler CEO lays out grand plan before he retires

Sergio Marchionne

The Alfa Romeo Stelvio is one of FCA's best-selling cars Sergio Marchionne is to retire next year Close

The announcement by FCA regarding its plans for launching new EVs is highly noteworthy, especially against the backdrop of the fact that the automaker apparently has some catching-up to do with its rivals in terms of electrification efforts.

"By '22, we will launch a midsize pickup truck" under both the Ram and Fiat brands, Manley said. The full-EV Alfieri will have a top speed of 300+ kp/h, or more than 186 miles per hour, and a 0-62 miles per hour time of less than 2.0-seconds.

Notably absent were the marquee brands: Fiat and Chrysler, which both represent the less-profitable passenger cars now off consumers' radar, particularly in the United States, where Fiat Chrysler makes more most of its profits, but also in fast-growing China.

While the aging Durango SUV has gotten a shot in the arm thanks to its new SRT version, the Journey crossover and Grand Caravan minivan would appear to be staring mortality in the face. The share price drop is related to an announced investment plan of some $10.5 billion in electric and hybrid cars, a parting gift from CEO Sergio Marchionne, who is retiring next year.

Santander has struggled to reach market share targets that it set along with Fiat Chrysler as part of the 10-year financing agreement the two companies signed in 2013. During that time he has merged Fiat with USA carmaker Chrysler and spun off the industrial vehicle business and sports carmaker Ferrari.

WWDC 2018: Apple Will Likely Focus On Software, New MacBook Announcement Unlikely
According to a new report from Reuters , ARKit 2.0 will allow multiple iOS devices to share the same virtual environment. The event will see a plethora of updates for the iPhone, Apple Watch, Mac, and other Apple products.

The 65-year-old Italian-Canadian has said his successor as CEO will come from within the company, but won't be named before next year.

Marchionne wore the necktie in honor of Fiat Chrysler's impending retirement of its industrial debt, which he said will happen this month. Marchionne is famous for unfailingly wearing navy blue cashmere sweaters and never a tie, no matter the event. He confirmed Ram will produce the TRX extreme performance off-roader based on a 2016 concept, to compete with the Ford F-150 Raptor. Also sales for the Italian brand are now in the doldrums with only 1860 units sold past year.

FCA said it is targeting annual sales of 400,000 for the sporty Alfa Romeo brand in 2022, up from the 170,000 expected this year. This comes as a disappointment to many, but we should point out that the auto industry is always changing, so while the current plan doesn't include a new Viper - we can keep our fingers crossed for the return of the Mopar supercar in the future.

Ferrari will supply internal combustion, hybrid, plug-in hybrid and pure electric powerplants to all future Maseratis, said the marque's chief, Tim Kuniskis.

Latest News