Stellantis execs believe the automaker has to protect the profitability of its current ICE business to help fund the shift to EVs.
Stellantis is getting ready to electrify its lineup but warns that doing so will cost a lot of money, with one possible effect being that EVs will become too expensive for the middle classes.as its future, it says that bringing it to market in late 2024 will be costly.underlined the need to boost profitability and cut costs in order to fund the shift to EVs. Speaking with, Ram CEO Mike Koval Jr. said the 1500 REV is"what we're here to celebrate and talk about, but it's expensive.
He added that protecting those profits has been a challenge amid recent development like the pandemic, microchip shortage, inflation, and regulatory changes. For example, Stellantis cited costs related to developing and building EVs among the reasons the company idled its Jeep Cherokee plant in Illinois at the end of February.Stellantis CEO Carlos Tavares said at a media roundtable last week that the question is how the company tackles those additional costs.
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