FILE PHOTO: A new Fiat 500 mild-hybrid car is displayed at a Fiat Chrysler event held to unveil its first hybrid models, in Bologna, Italy, February 4, 2020. REUTERS/Flavio Lo Scalzo/File Photo
FCA operates in China through a loss-making joint venture with Guangzhou Automobile Group and has a 0.35% share of the Chinese passenger car market. “Beyond 2025, full electric will become the norm” across the industry, Manley said, ultimately replacing hybrids which are facing future bans in several countries.
That left its adjusted operating profit for the year at 6.67 billion euros, just shy of its target of over 6.7 billion euros. Its adjusted EBITDA margin came in at 6.2%, in line with its target of more than 6.1%.
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