Marchionne Is Last To Join The EV Bandwagon, But Can Fiat Still Compete? (Part 1)

Fiat Chrysler’s CEO Sergio Marchionne unveiled his last 5-year industrial plan for the Italian-American carmaker a month ago in Turin, Italy. The much anticipated event did not disappoint, as the CEO confirmed the company would be finally rid of its long standing debt. More importantly, in a major U-turn from past statements, Marchionne announced a major investment of 9 billion euros aimed at the electrification of Fiat Chrysler models to the detriment of diesel engines – to be abandoned by 2021. Fiat’s financial wizard made it his life mission to close out the company’s debts and reach profitability. But can Sergio’s financial genius survive the capital-intensive tech race to Car 2.0, also known as the electric car

CleanTechnica