Connect with us

Hi, what are you looking for?

CleanTechnica

Cars

Fiat Chrysler Will Basically Fund Tesla’s Gigafactory 4

In a sense, Fiat Chrysler Automobiles (FCA) will be funding Tesla’s Gigafactory 4 (GF4).

In a sense, Fiat Chrysler Automobiles (FCA) will be funding Tesla’s Gigafactory 4 (GF4). This insight comes from Automotive News Europe. FCA could spend around $2 billion all the way through 2023 riding Tesla’s zero-emissions coattails.

FCA made a deal, which we reported back in April 2019, to pool its fleet with Tesla’s in order to comply with Europe’s stricter emissions rules. According to a U.S. investment bank, this is funding Tesla’s upcoming German factory. That $2 billion can be split into about $150–200 million per quarter and will give Tesla’s profit margins a nice cushion for 2020.

In 2019, FCA’s CEO, Mike Manly, said that FCA will not have to pay fines for not complying with the tougher European CO2 regulations in 2019 and 2020. The reason is because of the credit deal with Tesla, along with FCA’s forthcoming plug-in hybrid versions of the Jeep Compass, Renegade, and Wrangler. There is also a new fully electric Fiat 500 coming. (The Fiat 500e has been sold in California for years. We reviewed it in 2016 and 2017.)

Some may think that more EVs and hybrids out there are bad for Tesla, but in reality, this is Tesla’s overall goal — to accelerate the transition to electric vehicles and clean energy. Elon Musk once noted that Tesla’s true competition isn’t the EVs coming onto the market, but the gas vehicles that are still being produced.

I believe that 2020 will be the decade of the EV, and this is all thanks to the push from Tesla and Elon Musk (and perhaps partly the mainstream media, which keeps putting Tesla in the news — whether good or bad). The more people focus on something, the larger that something becomes. With more people talking about Tesla, the more people buy a Tesla, and the more the costs come down (as we’ve seen with the Cybertruck).

It’s good to see FCA contributing to the cause, as Kim Paquette said in her tweet. They will end up contributing one way or another, and thus help Tesla achieve its mission, a great way to help lower the amount of CO2 in the air.

 
 
Appreciate CleanTechnica’s originality? Consider becoming a CleanTechnica Member, Supporter, Technician, or Ambassador — or a patron on Patreon.
 
Have a tip for CleanTechnica, want to advertise, or want to suggest a guest for our CleanTech Talk podcast? Contact us here.

New Podcast: Cruise Talks Autonomous Driving Tech, Regulations, & Auto Design

New Podcast: Battery Mineral Mining Policies & Regional Trends

Written By

Johnna Crider is a Louisiana native who likes crawfish, gems, minerals, EVs, and advocates for sustainability. Johnna is also the host of GettingStoned.online, a jewelry artisan and a $TSLA shareholder.

Comments

#1 most loved electric vehicle, solar energy, and battery news & analysis site in the world.

 

Support our work today!

Advertisement

Power CleanTechnica: $3/Month

Tesla News Solar News EV News Data Reports

Advertisement

EV Sales Charts, Graphs, & Stats

Advertisement

Our Electric Car Driver Report

30 Electric Car Benefits

Tesla Model 3 Video

Renewable Energy 101 In Depth

solar power facts

Tesla News

EV Reviews

Home Efficiency

You May Also Like

Cars

Originally published on EV Annex. Should you display your leadership prowess by being super-provocative and posting memes on Twitter like Elon Musk? Ummm, probably not....

Cars

I recently had an interesting conversation with a zealous Tesla fan on Twitter. After seeing a tweet that was contextually dishonest about Volkswagen’s Electrify...

Batteries

Yesterday, I got some good feedback on my post about releasing a Tesla Financial Model on GitHub*. It occurred to me an analysis of...

Autonomous Vehicles

In his latest YouTube video, Dave Lee interviewed Tesla Owners Club of Austin members Matt Holm, president, and Anuarbek Imanbaev, vice president. Lee’s channel...

Copyright © 2021 CleanTechnica. The content produced by this site is for entertainment purposes only. Opinions and comments published on this site may not be sanctioned by and do not necessarily represent the views of CleanTechnica, its owners, sponsors, affiliates, or subsidiaries.