Sergio Marchionne, Chief Executive of Fiat Chrysler Automobiles (FCA), gestures during a news conference in Turin on Mar. 31, 2014.Reuters/Giorgio Perottino
It's safe to assume that Fiat Chrysler Automobiles (NASDAQ LON:XE) CEO Sergio Marchionne is a bit skeptical about the future of electric cars.
According to the Detroit Free Press, the Italian head of Fiat told a Brookings Institution discussion panel on Wednesday that the company loses $14,000 on every all-electric model 500 that it sells.
“I hope you don’t buy it, because every time I sell one, it costs me $14, 000," Marchionne said, according to the newspaper report.
The $14,000 loss per electric car is 40 percent higher than the $10,000 per car loss that Marchionne previously said was likely.
