FCA and Engie to create new electric vehicle company

Fiat and Engie have have plans to create a Joint Venture to offer innovative solutions and services to make access to electric mobility easy and convenient for everyone.

The newly created company would offer a full suite of products and solutions for electric vehicles customers such as residential, business and public charging infrastructures as well as green energy packages, enabling customers to charge at home and at any public charging point across Europe with a simple subscription at a fixed monthly rate.

“The signing of this Memorandum of Understanding originates from a fruitful three-year cooperation between the two companies, which allowed the implementation of truly disruptive projects, such as the introduction of the exclusive FCA easyWallbox, an easy-to-use plug-and- play charging unit, the recently launched V2G Pilot Project and the innovative customer-oriented energy packages,” said Mike Manley, Chief Executive Officer of Fiat Chrysler Automobiles. “The envisioned Joint Venture would allow an even higher commitment from both parties to expand the scope of the existing cooperation and further develop innovative products and services to enable and support a smooth shift to electric mobility in Europe”.

“Electrification represents an inevitable trend poised to disrupt urban mobility and – most of all – an unstoppable paradigm change of worldwide energy systems. The signing of this Memorandum of Understanding is a testament of the joint commitment aimed to accelerate this change by leading such a disruption towards a more sustainable future” commented Carlalberto Guglielminotti, Chief Executive Officer and General Manager ENGIE EPS. “Italy left a profound mark on history with its excellence in the automotive industry and in the development of innovative technologies in the energy sector. This Joint Venture is the opportunity to consolidate this heritage whilst shaping the road ahead for a greener mobility”.

The envisaged transaction will be subject to the standard conditions foreseen for this type of operation and all necessary communications and approvals from the competent authorities and institutions.

The two parties expect the signing of the full set of agreements1 by the end of the year, and the incorporation of the Joint Venture in the first quarter of 2021.