Chrysler Group LLC will lose more than $10,000 on every battery-powered Fiat 500e its sells, Fiat-Chrysler CEO Sergio Marchionne says.
“The economics of EVs simply don’t work. On the 500 that (Chrysler) will begin selling in the U.S. next year, we will lose over $10,000 (per unit) despite the retail price being three times higher” than a version of minicar with an internal combustion engine, Marchionne said on the sidelines of Fiat S.p.A.’s general meeting on Wednesday.
When a near-production concept the Fiat 500 EV was unveiled last year, Marchionne said the production model would start at $32,000, with the batteries accounting for half of the minicar’s cost.