Ram Working on EV Truck to Challenge Ford, GMC, Rivian, and Tesla
We admit that we love to listen to results calls because there is always product information dotted among the numbers.
Fiat Chrysler Automobiles’ third quarter earnings call didn’t disappoint, and chief executive Mike Manley confirmed that an electric Ram pickup was in the works.
“There’s going to be a Ram electric pickup on the market, and I’ll just ask you to stay tuned for a little while, and I’ll let you know exactly when it’s going,” he says.
There is some urgency given the importance of the Ram brand to the automaker and the attack of electric trucks on the way in the next two years. General Motors has the 2022 GMC Hummer EV electric pickup coming next year, Ford plans to release an electric F-150 by mid-2022, and Rivian is hoping salable versions of the R1T will be available in June. 2021. Tesla also has its Cybertruck in the works, although it keeps getting delayed.
Three-row jeeps climb
Manley had more concrete timelines for some upcoming Jeeps. “The three major Jeep launches for 2021 remain on track,” he said.
The first to go into production is a new Jeep three-row SUV that will be built at the new Detroit assembly complex in the first half of 2021. The new plant will also manufacture the next-generation Jeep Grand Cherokee.
Manley also confirmed that FCA’s planned merger with PSA, which will lead to the creation of a new company called Stellantis, remains on track. The deal is expected to close by the end of the first quarter of 2021. Manley said synergies between the two companies will save nearly $ 6 billion a year by the fourth year of the merger. greater savings than initially expected.
Overall, FCA had a record third quarter thanks to Ram and Jeep sales. Pre-tax profit in North America reached a record $ 2.9 billion with a profit margin of 13.8%.