Stellantis CEO says EV cost burden is 'beyond the limits' for automakers

[Ogre]

"What has been decided is to impose on the automotive industry electrification that brings 50% additional costs against a conventional vehicle," he said.

"There is no way we can transfer 50% of additional costs to the final consumer because most parts of the middle class will not be able to pay."

From Reuters: https://www.reuters.com/business/au...urden-is-beyond-limits-automakers-2021-12-01/

Imagine if Dell had said “The smartphone cost burden is beyond the limits for PC OEMs”…

Keeping up with technology and the industry is literally his job. Is long term planning no longer the role of the CEO and the board of directors are companies? Lots of shareholder value is going away in the next 10 years. Or government money or both.

Someone needs to tell this guy that it doesn’t matter at this point what the governments decides at this point, EVs are coming.

 

[rr6013]

From Reuters: https://www.reuters.com/business/au...urden-is-beyond-limits-automakers-2021-12-01/

<SNIP>

Thanks for this headsup!

Stellantis had fooled me. Commendable to admit OEM’s can’t compete. Stellantis et.al. are faking it. All of them, GM/SAIC
Wuling Hongguang #1 seller in China notwithstanding.

@Crissa summed it best, elsewhere, Battery technology. Those who have their own are in EV to win it. This is going to be a wider collapse than big iron mainframe OEM’s after the Apple computer.

Last respite for OEM’s is mass transit.

 

[TruckElectric]

From Reuters: https://www.reuters.com/business/au...urden-is-beyond-limits-automakers-2021-12-01/

Imagine if Dell had said “The smartphone cost burden is beyond the limits for PC OEMs”…

Keeping up with technology and the industry is literally his job. Is long term planning no longer the role of the CEO and the board of directors are companies? Lots of shareholder value is going away in the next 10 years. Or government money or both.

Someone needs to tell this guy that it doesn’t matter at this point what the governments decides at this point, EVs are coming.

Electric Viking, my thoughts as well. Exactly what I thought when reading this.