Fiat CEO Sergio Marchionne has revealed the company expects to lose $10,000 (€7,065 / £6,159) on every 500 EV they produce.

Fiat CEO Sergio Marchionne has revealed the company expects to lose $10,000 (€7,065 / £6,159) on every 500 EV they produce.

Speaking with Automotive News, Marchionne stated "The economics of EVs simply don't work. On the 500 that will begin selling in the U.S. next year, we will lose over $10,000 despite the retail price being three times higher [than the standard model]." This is downright shocking as it implies the 500 EV will be priced at $46,500 which is $13,720 more than the Nissan Leaf.

Despite the lopsided economics, Fiat is committed to launching the model to alleviate government pressure to build zero emission vehicles.

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