The newly merged Fiat Chrysler Automobile’s CEO, Sergio Marchionne, is telling the media he doesn’t want to sell his new EV. In an age of fierce electric vehicle competition, Marchionne was quoted as saying,” I hope you don’t buy it (Fiat 500e) because every time I sell one, it costs me $14,000.” It’s not the only time he has made such remarks. He previously was quoted stating each would cost him $10,000.
Fiat Chrysler created the 500e to meet state mandates that demand automakers offer zero-emission vehicles in their fleet. Electric cars the most cost-effective way to meet the mandate’s requirements. The EV market is popular in urban settings where the limited range of completely electric vehicles is sufficient, but until automakers can extend the range on EVs, the market will be limited.
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