Mike Manley, chief executive of Fiat Chrysler,fca, said in October that the company was open to incorporating other companies’ electric vehicle technology product lines into the market. As a car giant with well-known brands such as Jeep and Dodge, the move is bound to have far-reaching consequences. The FCA has been in talks with at least two troubled electric car start-ups to use their technology to create electric FCA vehicles,media Outlet The Verge reported. The two companies currently under the disclosure are faraday Future of Jia Yueting and Seres, best known for SF Motors.
Media The Verge contacted current and former employees of the two companies , who spoke on condition of anonymity because of confidentiality agreements , and the FCA and the two companies are currently in different positions of negotiation . According to a former employee familiar with the negotiations, negotiations between the FCA and FF date back as early as April — when Ford announced its investment in the electric car start-up Rivian. After months of intermittent negotiations, ff used the mastery of the electric powertrain technology to transform one of the FCA’s cars and conductroad tests in October this year.
Two current employees of another Seres said the FCA required Seres to install the electric assembly in the FCA’s two cars. In an october 31 email to The Verge’s employees, CEO James Taylor said his start-up “has a lot of work to do to turn this experiment into mass production, but it reflects the ability, knowledge, strength and appeal of TheEres from OEMs.” “
Both auto start-ups can get an investment from it. Faraday suffered two major financial crises in the future, which eventually led to hundreds of job cuts. It recently appointed a new chief executive and is now trying to raise $850 million to put its first luxury SUV, called the FF91, into production by the end of next year.
Seres, an electric car start-up owned by Chinese carmaker Sokon, halted plans to launch its own pair of electric SUVs in the U.S. earlier this year and cut at least 90 jobs. Since then, the company has refocused on selling powertrain technology and recently signed a deal with BYD, the Chinese carmaker, to develop power electronics such as motor controllers.
John Schilling, Faraday’s future communications director, said: “While we have not ruled out future joint ventures and potential partnerships with other OEMs, FF remains focused on the delivery of the FF91 in 2020. In addition, we cannot discuss future product plans or any potential partnerships at this time. “