Author: Nora Eckert and Giulio Piovacari
DETROIT, Dec 4 (Reuters) – Stellantis Chief Executive Antonio Filosa said on Thursday the automaker is focusing on hybrid production for the U.S. market, a shift from its predecessor’s focus on all-electric models.
“We firmly believe that hybrids will become one of the most popular powertrains in the United States,” Filosa told a conference organized by Goldman Sachs.
He clarified that the automaker is focusing more on conventional hybrids rather than plug-in hybrids, which he believes don’t have the same needs.
Filosa highlighted the automaker’s Jeep Cherokee Hybrid and said Stellantis is trying to expand the range of products in its lineup.
The CEO is trying to reverse a sharp decline in U.S. market share that led to the abrupt departure of his predecessor, Carlos Tavares, a year ago.
The new head of Stellantis, which owns 14 brands including Chrysler, Ram and Jeep, started about six months ago after a lengthy search to replace Tavares.
Filosa joined Ford Motor Co.’s CEO in meeting with President Donald Trump this week to discuss his proposals to cut fuel economy regulations.
Easing those rules would allow automakers to increase production of gasoline-powered models and ease pressure on electric vehicle production.
Driven by dealers and customers, Stellantis relaunched the HEMI 8-cylinder engine in some models this year. Orders for the HEMI V-8-equipped Ram reached 10,000 on the day of the announcement, and 50,000 within six weeks, Filosa said.
“There’s a huge opportunity there for portfolio improvement and volume improvement,” he said.
Filosa said Stellantis’ U.S. market share was 7% in the first half and climbed to 8% in the third quarter. He expects automakers to gain more market share with upcoming vehicles.
(Reporting by Nora Eckert in Detroit and Giulio Piovacari in Milan; Editing by Mike Kollias and Franklin Paul)