Fiat-Chrysler CEO Sergio Marchionne said Thursday night that his company will lose $10,000 on every Fiat 500e electric car it sells — even with government subsidies — and he called on governments in this country and around the world to let automakers figure out the future themselves.
"Regulators are rushing precipitously toward embracing (electric vehicles) as the only solution," he said during a speech at the Society of Automotive Engineers 2013 World Congress at Cobo Center. "Doing that on a large scale will be masochism in the extreme."
Marchionne pointed out that, only a few years ago, governments were touting the potential of hydrogen to replace oil as the primary fuel for cars and trucks.
"It's now electricity's turn," he said.