Fiat Skeptical Of Model 3's Success; Will Create a Rival if Profitable

If the statement by Fiat Chrysler Automobiles (FCA) CEO, Sergio Marchionne is anything to go by, FCA could introduce a Tesla Model 3 rivaling electric car, if the recently unveiled electric sedan makes good business sense. Marchionne said that the Italian manufacturer just might build a Tesla Model 3 rival if the electric luxury sedan turns out to be profitable for the American car maker.

Also Read: Tesla Model 3 Price Announced; Elon Musk Confirms India Launch

The Tesla Model 3 was unveiled in March this year as the company's most affordable offering at a stellar price tag of $35,000 and has already garnered over 3,25,000 bookings in days since its unveil. This surely has caught the attention of the Italian automaker boss, who is skeptical if Tesla can deliver on its promise. Marchionne said that if Tesla CEO Elon Musk "can show me that the car will be profitable at that price, I will copy the formula, add the Italian design flair and get it to the market within 12 months."

Fiat 500e

The statement was made at FCA's annual meeting in Amsterdam, Netherland. Commenting on the sidelines of the meeting, Marchionne said, "I'm am not surprised by the high number of reservations but you have then to build and deliver them and also be profitable."

Once bitten, twice shy, Sergio Marchionne's dislike for electric vehicle is not exactly a hidden issue. The Fiat boss went previously went on record urging people to not purchase its 500e, as the electric version of the retro car cost the company $14,000 every time a model was sold. Hence, it is understandable why Marchionne is so apprehensive about electric vehicle maker's claims.

The Tesla Model 3 will be going on sale in the US by late 2017, soon after it commences production, while deliveries globally are expected from early 2018. India, in addition to several other emerging markets was announced by Tesla to be one of the markets to get the all-electric luxury sedan.

Also Read: Tesla Model 3 Spotted on Road for the First Time During Video Shoot