Fiat Chrysler stock
Last week, Fiat Chrysler Automobiles (FCAU) rose 0.5%—much lower than its gains of 4.6% the previous week. As of June 14, Fiat Chrysler has risen 1.7% year-to-date. Fiat Chrysler has underperformed its direct peers including General Motors (GM) and Ford (F). So far, General Motors and Ford have risen 6.6% and 30.5% in 2019.
In 2018, Fiat Chrysler lost 19.9% after posting massive 102.7% gains in 2017. General Motors, Ford, and Ferrari (RACE) fell 17.8%, 36.5%, and 6.6% in 2018 due to a massive market wide sell-off in the fourth quarter last year.
Electric vehicle plan
On June 14, Fiat Chrysler announced its partnership with Enel X, an American energy management advisory company, and ENGIE (ENGIY), a French electric utility firm. The partnership will likely help Fiat Chrysler accelerate its electric vehicle development, which is part of its 2018–2022 business plan.
Last week, the company informed investors that the new partnership would help Fiat Chrysler offer “innovative charging solutions and services” to its customers. At the same time, Fiat Chrysler aims to research ways “to reduce the total cost of ownership of electrified vehicles.”
In the electric car segment, Fiat Chrysler is behind General Motors and Ford. In the last few years, all of the companies accelerated their electric car development after Tesla (TSLA) showcased electric cars’ true potential.
Tesla’s Model 3, Model S, and Model X have largely received a positive response from consumers. However, Tesla has struggled to boost its production rate and car deliveries.