Fiat Chrysler Is Scouting EV Tech from Faraday Future and Similar Startups
With time, more companies are hopping on the electric vehicle bandwagon, and that includes some of the lavish and iconic car brands too! FCA can’t just let rivals like GM and Toyota get ahead in that race! Sometimes back, Mike Manley, the FCA CEO, told investors that the company is okay with making electric cars by deploying EV tech developed by other brands. It seems FCA has already gone ahead on this front. The automaker is in talks with a few distressed EV startups. Faraday Future is among these entities- as per the industry sources.
According to industry insiders, FCA is already experimenting with the deployment of EV tech borrowed from these techs in its vehicles. This will help the company to come up with EVs to combat rivals like Volkswagen and GM. Faraday Future has reportedly retrofitted FCA’s cars with its electric powertrain, and road testings are being done. The talks began as early as in April, as per the sources. Another brand that FCA is in the negotiations with for using EV tech is named Seres.
While FCA has not said anything officially on these issues, the small startups can gain from the deal if it works out. Faraday Future has undergone two big financial crises leading to layoffs. It is trying hard to launch a luxury SUV named FF91. Seres, under the ownership of Chinese automaker Sokon, also laid off some employees earlier this year and quit the plan to launch its electric SUVs. Faraday Future said the company is not opposed to future joint ventures and partnerships with other brands, but it is keen on making the FF91 next year. It did not confirm any tie-up with FCA. For FCA, the deals can be advantageous too. It also aims at creating a lot of EVs by the next decade. However, so far it has been outshined by rivals like the Volkswagen Group, GM, and Ford. Tesla is also doing well, and FCA wants to catch up without further delay.