Chrysler Not Dead, Fiat to Become Euro Only EV Brand

FCA won’t be killing off its Fiat and Chrysler car brands, however the two entities are in for a major shakeup in coming years.

During FCA’s five-year product presentation plan in Italy today, company CEO Sergio Marchionne dismissed rumors that Fiat and Chrysler would die off so the company could focus on Ram, Jeep, Maserati and Alfa Romeo. Instead, Chrysler will become a North American brand only, while Fiat will slowly transition to selling electric vehicles in Europe.

Marchionne said rumors that Chrysler and Fiat would be killed off entirely were “nonsense.” A company spokesperson also indicated that Dodge would not be killed off either.

Additionally, FCA said it would invest 9 billion euros, or roughly $10.5 billion US, in the development of electric cars between now and 2022. The company said this decision was necessary in order for its vehicles to meet strict emissions standards set to be implemented in the near future. In total, FCA plans on introducing 30 new battery electric or hybrid models by 2022. It also predicts that 60 percent of its cars sold in Europe by 2022 will be hybrid or fully electric.

SEE ALSO: FCA Boss Thinks Diesel is Dead

Fiat will launch a new pure electric city car, likely a next-generation 500e, by 2020. The new 500e’s powertrain, right now being referred to as the ‘City Car’, will be one of four electric drive systems FCA will bring to market between now and 2022. There will also be a ‘Mainstream’ version that will find its way into certain Jeep products, a ‘Performance’ powertrain for the Maserati Alfieri and a ‘Premium’ EV powertrain that will appear in the next-generation Maserati Quattroporte sedan.

FCA also said there will be no diesel cars in its portfolio by 2022, with hybrids and EVs taking their place entirely.

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