Friday, May 23, 2014

“I believe that we could continue to explore the potential of electricity, but without being strong-armed by regulators”

Car Exec Loses Money On Electric Cars, Says ‘I Hope You Don’t Buy It’ [VIDEO] - Chuck Ross/Daily Caller (image source)

The CEO of Fiat Chrysler said he hopes that people don’t buy his company’s electric car, the Fiat 500e, which he is forced to sell at a loss because of state and federal mandates.

“I hope you don’t buy it because every time I sell one it costs me $14,000,” Sergio Marchionne told the audience at the Brookings Institute during a discussion of the auto bailout....

In his candid remarks, Marchionne blamed regulations set in place in California and by President Obama.

“Because of California and there’s mandates which keep on moving the impositions back on car makers to produce cars that are zero-emission vehicles,” said Marchionne.

“The other one is because of the initiative that was put in place by Obama back in 2011 with the new emission rules which are effectively binding the industry until 2025.”