Stellantis executives at the New York International Auto Show talked about the need to fund the shift to EVs by boosting profitability, cutting costs and confronting sliding sales of today's combustion lineup.
NEW YORK — The electric pickup with a 800-kilometre range that Ram showed here last week represents the future for Stellantis.
Protecting those profits amid the pandemic, inflation, regulatory changes, the microchip shortage and other developments has been a challenge. The costs related to developing and building EVs are among the reasons Stellantis cited in idling its Jeep Cherokee plant in Illinois at the end of February. Ram's EV plans also appear to include a midsize pickup. The brand showed dealers a concept truck in March, and Koval said the next step is to decide which platform to use and where to sell it. Although the concept is a full EV, Koval said the truck could have a gasoline variant, too, because not every country is shifting to EVs at the same rate.
First-quarter U.S. sales results partially reflect the company's efforts to preserve margins so it can fund the EV shift. Stellantis posted a 9.1 per cent decline, including a 6.8 per cent slide for Ram and a 20 per cent drop for Jeep.
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