Stellantis CEO Leaves CNBC Host SPEECHLESS (Jeff Lutz on their DEAD END Strategy)
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- Опубликовано: 25 фев 2024
- Jeff Lutz is an ex Supply Chain C-Level Exec at several Fortune 100 companies like Google, Lenovo and Motorola. Currently running his own consulting firm.
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The Stellantis CEO just recently changed his tune. He WAS saying that most people didn’t want EVs, now it’s there so much demand that Stellantis is all in? BS
8:40) "I'm either gonna buy an ICE car or I'm gonna buy a Tesla. I don't want an electric Jeep." Right Frunkin' On!"
This shows EXACTLY where Tesla is leading compared to other manufacturers. Basically Tesla has 3 EV models selling between 2 million and 3 million units. All built in a mass produced efficient way.... YET, Tesla are saying "we are not efficient yet, we can cut production time in half!"
Yup and their modular system will accomplish this and more
ppl have not idea whats like to work deep in tesla.They make me feel dumb af,freaking genious with high speed brains
@@Irothelegend1 Exactly
The Stellantis CEO spouts nothing more than excuses for non-performance. He has a very shallow view of what's needed for widespread EV adoption - just same-old myths, like fast-chargers everywhere and 500 miles of range. If Stellantis wants to make the transition to EVs, they will need to start with a new CEO.
It's all talk at this point. Mary B said that GM was going to sell more EVs than Tesla. And if there are fast chargers everywhere, why would you put a massive, expensive, 500 miles range battery pack in the car?
I agree on the visibility of chargers. Most are hidden or non-obvious to ICE owners. They think there is no infrastructure, even if their city is full of them. It is a perception issue
@@thomasreese2816 Yep, I am constantly asked where can you charge a Tesla? I just sit them in the passenger seat and hit the charge button. Boom 15 places within 20 miles of where I am. Only 4 are not destination chargers though.
EV future is questionable, but saying he has non-performance is inaccurate.
Their stock is up 48% over last year and up 77% since it was founded in Jan 2021. Tesla is down 4% for the last year and down 27% since Jan 2021…
if you have charging infrastructure you don't need 500 miles of range. Further, batteries for 500 mile range kills the price point people pine for. too expensive. Finally, low price point dreamers aren't homeowners, so they can't charge at home - the biggest EV advantage. They're back to the infrastructure problem.
Stellantis already has a fatally fragmented conglomeration of brands (14?) -- the 48 model prediction seems an attempt to keep them all viable. Better would be to shed half of the portfolio and specialize on 1-2 models per brand. Because of this sprawling structure, I see Stellantis as one of the least likely to survive the consolidation.
No one covered how Stellantis is going to double battery energy density, magic perhaps?
They're are following the Toyota model of promising great things in a few years.
he said power density ;)
AOC extention cord?
Energy density doubling this year for a relatively new player? That’s BS in capitals
Get your notebooks out kids, Jeff has started class.
The Stellantis CEO is claiming they'll introduce many new BEV models THIS YEAR. Seems delusional to think they will be competitive with a basket of low volume models. Should be very interesting to see it play out!
How will they achieve economies of scale?
@@darylfoster7944 Exactly!
Perhaps he is suffering from Mary B.S. Barra syndrome. Say what you have to for the investors...and keep moving.
That's typical for a CEO, I think. @@kjer6071
He's talking about 500 miles of range. Unless Stellantis has some new mystery battery technology that nobody knows about, that range can only be achieved with a massive, heavy, and costly battery pack.
And... for most people.... 500 mile range is unnecessary. We've taken our 3 or Y on long trips and after 3 1/2 or 4 hours of driving, we're ready for a short break! Maybe because we're old geezers! lol
@@robzienert7492 I'm older, and I can't do more than two hours before I need to stretch my legs.
He is just making up numbers. Why not say 1200 mile range?
He's made a deal with the Energizer bunny for the battery, after a cup and string conversation with Santa, the Easter bunny, and the Tooth Fairy.
Fast charging time is much more important. A 200 mile range with a 5 to 10 minute recharge time would be lighter and cheaper.
Stellantis's CEO sounds just like GM's Mary "BS" Barra.
Not sure why they think more models is better. Figure out the secret sauce before trying to build all of these different models. It’s nonsense.
500 miles range? What a waste. My Model Y's highway range is 290 miles, or 240 miles in cold weather. More than enough! I drive for 2 hrs and charge for 20-25 minutes. With a bathroom break and getting a quick bite to eat, the charging stops seem like 5 minutes. ... I think about range about as often as I did in my last gas car. Tesla Navigation tells where to stop to charge and for how long. So easy! .. I'm not saying there's no use case for 500 miles, but 90% of people don't need that, and it's a waste for them, not to mention an unnecessary expense.
Been saying it for many years; any legacy automakers that keep talking about the huge numbers of EV models they have coming doesn't get it and they are not going to be able to compete. Their battery cell supply is going to remain the same size regardless, so make a few really good popular price competitive EVs. Making dozens of models just incrases the cost, ensures your design team soends minimal effort on each one, and doesn't increase the number of EVs you could sell.
The CEO is just doing what Mary Barra does, promise everything, deliver nothing.
The 500 mile EV that Carlos mentioned is probably the RAM EV with an ICE range extender (generator) that Stellantis previously announced. It is unlikely to be a full BEV.
We love Jeff. He has never said anything that isn’t accurate and true.
I really admire him.
500 miles range??? In big european cities people daily use 35km for driving i.e. some 20miles. For what one needs a 500 mile range, currently most EVs can make 500-600 miles with one 20min. coffee break easily
Yes. Even in the US the daily commute distance is below 40 miles.
My revivifier lives in a rural area: Dre. Frunkenstein's commute is 35km. Both ways!
And a 500 mile range battery pack is heavy and costly, unless Stellantis has some secret new battery technology, the odds of which are slim and none.
250 miles are enough and 300 miles are plenty
I bought the short range M3 and went from the Italian border to not far from the Spanish border with one charging stop. I can go from the beach to the ski slopes without stopping once. Range isn't the big problem for most in the EU.
Phillip.
I think in Europe Stantlantis are producing lots of BEVs on ice platforms. Vauxhall Mokka, Corsa, Peugeot 208, 308 ... So heavy, slow, not long range, or efficient.
Hard to believe anything that the Staleness CEO says, but my BS meter for him may be biased against him due to unrepresentative clips. I’d love for Jeep, Dodge, etc to survive the transition to an electrified world, but he never encourages my optimism with regard to Stellantis’s future.
Stellantis dealers are a (brain)dead zone. Not one Dodge dealer has a clue how to repair my revivifier's Grand Caravan. Holy Frunk, it's just an EGR valve!
No Jeep owner ever said "i want an EV"
Awesome Herbert and jeff. I love listening to you guys.
Stellantis (Jeep, Ram, Dodge, Chrysler) vehicles have the longest days of supply of any other manufacturers in the U.S. Some models have more than a year's supply on dealer lots right now, so we are likely to see heavy discounting resulting in a reduction of profit margin for Stellantis operations in 2024.
When the CEO bet on "Design to Cost" without understanding what it is! Imagine Elon not knowing the design processes!
Stelantis brands, Chrysler, Dodge, Jeep, Ram have the longest days of inventory on the market in the US. Sometimes over 300 days. Their products are over priced and poor quality. Their dealers will never make the switch to EVs.
Thanks Jeff for this free primer.
I think what I have heard is that Stellantis will continue to move slowly on EVs until they see that someone else has built the EV charging infrastructure. He talks about the new BEV models this year but will then make excuses later because of the lack of charging infrastructure.
A+ Herbert! Who needs to go 500 miles in a 25k$ car?
IMO The Stellantis CEO is talking about Hydrids with a less than 2 liter engine and a small battery that will only be plugged in once a year.
Very interesting. Taken to the extreme Design to Cost is the death of Innovation and establishes the rule of corporate beancounters over the product teams.
Stellantis and Tesla both end up with a 50 kWh pack. Stellantis because that’s the max that was allowed under design to cost and dependence on suppliers, Tesla ends up at 50 because their R&D and vertical integration gave them better efficiency. So Stellantis is building an inferior product with an acceptable per unit margin. Problem is, nobody is buying the thing sinking the business case
Obvious to us. Carlosch can't see the forest. His intellectual equal is a sack of hammers!
You said a mouthful of truth. Tesla engineers and releases one segment dominant product at a time and continuously iterates improvements to each. If Stellantis released one BEV per brand they’d have nearly twice as many models as Tesla and they would probably all be mediocre.
Stellantis can not make a better EV because their are stuck with what they know the best.
The gap with Tesla became a valley because of the cybertruck with 48V POE architecture. It will be truly over with the next gen factory that can make the Model 2 at profit.
@@itsyo42 the CT is in many ways Tesla‘s BMW i3. Initial low volume innovation platform. But other than BMW Tesla has the guts the see it through
Agreed if taken to extreme but not promoting that. DTC itself is highly innovative if looked at properly with balance on both preventing bad stuff but enabling new difficult stuff
I don't think 500 mile range is nearly as important as the availability of fast chargers
my issue with the electric car battery price is, they say for 10 years they are to expensive to make cos of the cost of the materials and volume. well volume is not an issue there is plenty of demand, and lithium is cheap, they replace standard cobalt based mix and make Lithium Iron phosphate, which is way cheaper chemistry to make, and people also say battery cost went down 30% from 2022, and will go down another 30% this year, then how the fu@ is still expensive and excuse for high car price?
Especially when my brother in law's Chrysler Town and Country's transmission crapped out on a road trip. 8200 bucks to replace for the one, 6 speed automatic, that could only go 80,000 miles in 8 years. That is not a transmission for a Hellcat or a high performance vehicle. It's the bread and butter transmission for Stellantis.
Charging should and will be primarily at one's residence. That's a point the Stellantis fellow misses.
I bet he's like Jim Farley - doesn't actually DRIVE the Frunkin' EVs assembled by his company...
Complexity, cost and quality. Their ICE cars are falling off a ledge because they've been charging way too much for the quality their producing. Their new BEVZ platforms are designed to be ICE, electric and probably hybrid. Their 500 mile truck platform has to lug around a 3.6 V6. Not sure where this "battery" is coming from
Sandy Munro once told how a brand asked for a car build to cost from him, they gave him a long detailed document what they are looking for, so he and his people made a detailed document with all the parts bom cost ect..
the brads people asked him what is the total cost to make? and he told the price, and they were surprised how affordable it was compared what they assumed, and they asked, have you factored in to the car cost, the cost of investment to be able to build them? and he was like, NO, you asked what is the cost to make the car, you cant put the investment cost on the car, cos then the car will be way to expensive.. well he was right.
"design to cost" seems tricky for ONE model. Planning to manage that process for 8? 18? FORTY-Frunkin' EIGHT models seems psychotic. The dollar coin in Canada is called a "looney!"
We go done to five major automakers, Stellantis isn't gonna be one of them.
How does required safety equipment work in "build to cost"? Do you leave it out because it costs too much?
Also, why double the power in the battery instead of 10x the power in the battery? If you are going to make up numbers, just go nuts. Why a 500 mile range when you can say a 1200 mile range per charge? Instead of a charging time of 25min from 0-100% why not say 5 min for 0-100%? Why a top speed of 130mph when you can say a top speed of 500 mph? It costs you nothing to say it.
Design to cost is not a new concept or a stroke of genius. Its just what smart profitable businesses have done for decades. Any business that does not think about design and production efficiencies at the same time are not in business very long.
Agreed
Few days ago, i watched The Electric Viking on YT. He said that Stellantis has a huge inventory of unsold vehicles. Think he said 164 day supply, more than any other car market and twice the industry norm. Said that people are just not buying their cars. And they have not cut back in making cars, so likely that inventory will continue to grow.
Certainly not the same as you hear here.
Bold CEO statements ... getting to sound more like politicians. What can I say to keep the stock price from diving and my compensation package up.
Like listening to Disney's Bob, it's going to be magic!
An example of Stellantis' approach is their decision to use the power semiconductor developed by Ideal Power, a bi-directional silicon-based transistor to supplant more expensive silicon carbide devices, and with much lower power losses than conventional silicon devices..
True, available of supercharger in all places n affordability are 2 problems to me
We are already 2 months into this year. I went looking for information on these 8 new BEV models coming this year in the U.S. well:
1. There is the top of the line Dodge Charger Daytona SRT EV made in Brazil. A extremely low volume car all other Chargers models are ICE cars . 2 Jeep Recon EV? 3. Chrysler Airflow EV, it was a failure back in the 1960s what will make it a success this time. 4 Ram 1500 Rev EV this has the most promise of all 4 EVs coming to the U.S. . Btw hard to find any information Carlos and you only have 10 months left. If Stalantis were remotely successful and managed to deliver these EVs the numbers would hardly move the needle in 2025
Terrific video. Thanks. The Stellantis CEO isn't really saying anything that new. This is exactly what happened in the U.S. automobile markets in the 1910s and 20s, going from dozens of companies to basically three. This is what was said about tech investing in the 1990s. Invest in a dozen promising companies, 8 or 9 will go bankrupt, but the growth of the other 3 or 4 will more than cover the loses. And yes Tesla is already several years and steps ahead of everyone else.
It's also interesting about the Chinese EV makers. A year ago I don't think anyone would say they'd ever be selling cars in North America or the EU. Good rationales... but then there's the Germans, the Japanese, the Koreans...
"Design to Cost" should be every company's goal. Duh. I will believe it when I see it.
Agree much easier said than done!
Guys, probably 8 models that are the same basic car but slight visual differences to serve each different company under Stilantis.
I do not believe we will see an affordable 500 mile range car in 2025, let alone 2024.
The battery with current technology would not even fit in a Model 3 size car, and if it did , they should be making 2 x 250 mile cars to make them affordable.
Does "design to cost" take account of cost decrease with increased volume?
The problem for legacy auto is that they are starting out at the high cost end of low volume production.
48 new models (with 500 miles range) will guarantee that none of them will be profitable.
Remember the ads from many years ago that stated simply "Intel Pentium Inside." Well, I see the near future stating "Tesla Inside." Basically, the car makers will manufacture the frame, assemble the interior. Everything else like the software, wheel motors, battery will be Tesla.
Peugeot and fiat seem to be selling electric stuff pretty well in Europe 👍
Stellantis is a very profitable company - 18.6 billion net profit in 2023. Their brands are well known and they just re-badge many of the cars they make:..Citroen/Peugeot/Fiat/Opel/Vauxhall. They are backed by both Chinese and Fench govts., so they won't go bankrupt. Also, for legal reasons, they HAVE to launch BEVs. They are being forced to. So, they may not sell many, but they have to launch them.
Yeah Sir
Very interesting conversation, affordability, convenience and privacy, are major points I find most relevant to potential future EV buyers, Aptera has some good ideas on this.
The problem that all ev makers except Tesla is facing is an undeveloped charging infrastructure! You bring out all the ev you want but without the infrastructure to charge them from coast to coast, it makes other ev’s useless unless you can home charge and are allowed to charge in a Tesla supercharger! Plus the making of ev without having a mass production numbers baked in, is extremely expensive! When they say Tesla is ahead of the game, is an absolute understatement! They are flying down the highway at 80 miles per hour while everyone else is at the drawing board and the numbers don’t lie and will continue to stay as such and they know that, it’s simple economics!
Too bold. No way Stellantis bring a 500 mile ev battery to production this year or next. No way they produce 8 new ev models in the US. They should concentrate on building one profitable ev.
Scary stuff for OEMs. They need Jeff's consultancy skills and experience!
500 miles range will be very expensive. With a dense supercharger network you can save a lot of batteries by accepting 300 miles of range.
A lot of weight too. Those batteries use a lot of juice moving themselves around.
The weight is the issue of the vehicle. Materials that that military uses that are tough, durable and light weight from the 70's should be used for the batteries lower shell and a flame retardant plastic which will! Suppress the blast or fire like the cargo containers on aircraft
Stellantis have some great vehicles here in Europe , my wife’s Stellantis vehicle does 60 miles per gallon on combined use with 792 range on a tank of fuel - fuel is expensive here with high taxes and no fracking unlike USA
Isn't it interesting how since EVs hit the mainstream, everyone suddenly became a cross-country roadtripper fully dependent on a national infrastructure to commute to work.
Right "in" your wheelhouse, right "up" your alley. Right church, wrong pew!
If he's worried about cost, and making 500mi vehicles, why don't they start by using half the battery? Almost no one needs 500 miles.
Sounds like marry barra a few years ago, gonna have so many models of ev and its gonna be so good.... where are those at.
48 models only equals three different cars for each brand that Stellantis owns.
The comment seeing the charger is very ICE. BEVs need software to locate the charges and their availability.
8 vehicles wow
I believe there are some people who "need" a car with 500+ mile range and would be willing to pay for it. 95% of the rest of us do just fine with 250-300. Almost positive he's talking a out a 500 mile hybrid not a bev.
They have shares platform. 55kw, 72kw and probably 90 kw. Many models but only 3 ground platforms. All battery electric or hybrids...
people are too dumb to understand this
Is he talking about the tesla charging network ?
Remember when Mary Barra so confidently said they would overtake Tesla?
He seems to be hoping for Alien Technology to improve battery range.
Maybe Stellantis should invest in SETI. Some alien tech could jump us ahead thousands of years.
Hopefully battery prices come down. Changing out an EV battery for less than $5k would be a game changer. Until then, I would only lease an EV if I was to buy one today. Warranty coverage is key. Plus I get a loaner vehicle.
48 models world wide... What is this guy smoking? 2 months already passed bro. RIP Stellantis
VW Audi Porsche…when you consider how dominant the Golf was .. Well they had the opportunity to dominate the EV marketplace. Sadly they totally screwed up and now face bankruptcy.
What keeps people from buying is that every second day there is a new announcement about better batteries, better range, better everything. So why should I buy now and not wait?
Just buy the MY and save yourself every heartache
The one advantage Stellantis has is minimal debt. VW and Toyota have huge debt. Toyota had one BEV made by a Chinese company and rebadged. Sales stopped as the wheels kept falling off the car. Stellantis is about to start import the Fiat 500E. Base price for the smaller battery will be about $34,000 and have a range of 118 miles, the 500E is a very very small car. 500E top of the range S46,000 bigger battery, range 186 miles. I don´t think Tesla is going to worry about these imports.
All the points correctly identified, guess you cut even supplier planning by using universal skateboard on as many models as possible. And use existing bodies, there is no need to create new body NOW. At most modify the floor pan, everything up is common and extension of existing model production.
Here's a thought. Want more range? How bout 18/19" wheels instead of 20-22"?
They have had quality issues on some of their brands like Fiat.
He sounds like Mary Barra when she said GM would beat Tesla.
Good luck with your revolutionary "Design to cost". ICE manufacturers think that their seniority in the auto industry means they'll be turning a profit on the EV market from day 1.
Lol those cartoon-villian glasses 😂
how about a simple product. I don't need automatic everything. Why do I need a color TV on the day to display "check engine" which will cost 3000 dollars when it goes dead. Get rid of all the electronic junk.
The adaptability of EV’s will come when they will put charging ports like they did ATMs at a corner in Houston. They’re putting more and more gas stations everywhere so there’s no sign of EV adaptation here.
Carlos needs to lay off the mushrooms.
A Mary emBARRAsing moment. GM will sell more EVs than Tesla NEXT year. LOL
Seems like we’re waiting for fsd v12.3 … maybe another 2 weeks
The variety of cars available has gotten stupid and that complexity can’t be good for these companies. There are no longer categories, they each exist on a spectrum. Remember when it was obvious if the car in front of you was a hatchback, sedan, station wagon or SUV? Not so much any more
Sort of like the days when you knew if someone was a man or a woman.
8 new models would just cause choice paralysis.
They need only a few models a sub compact a gegular sice cars a suv and a 6 to 9 passenger and a truck the a few version of the truck . And make them wok for all your area . And 90 percent of people dont beed 500 miles of range.
14:08 why toyota, jeff? Size?
Jeff has said that Toyota has a very good supply chain, which will help them keep COGS down.
The Kiss principle applies to most manufacturing. This CEO seems to have missed it. Hasn't he looked at why Tesla is successful?
Fewer auto makers or more saved by government bailouts?
regarding complexity, aren't they doing like same model for 3 brands with different skin? so the actual complexity is much lower
The problem for automakers is that complexity adds cost and increases price.
*Most charging happens at home, people overestimate how much battery they need, 250mile with option of 400mile is plenty.* 😂😂
Stellantis CEO sounds like a "confident man" either intentionally or ignorantly....
Let's hope he's merely ignorant. This is the same man predicting a bloodbath in the industry.
Tesla has shown the way to build vehicles, and Stellantis is foolishly ignoring the model tesla Has proven to work with just 5 models they will dominate. Build just a few high volume successful models, and like tesla have a base, luxury and performance variant of the base platform. This CEO is delusional, and I guarantee we don’t see 8 models this year, we don’t see 500 mile range (which is useless anyways), and you do t need to visibly see chargers, thats what maps are for. We saw what happened to Mary Barras grandiose plans, she led alright, led the demise of GM. VW had a CEO the got it and knew what he was up against, but VW board didn’t want the short term pain for long term gain, so they fired him. I am a big fan of Teslas business model, but I really want other automakers to succeed, so far over the last decade, I see little hope. Long TSLA!
The Ram ICEGen/ev drive train might get 500 miles easy.
Affordability and Profitability; only 5 in 5 years? In 10 years? In 15 years? (Time'll tell.)
These design to cost vehicles will not be compelling, but they may sell to folks who NEED a chep car. But if Tesla has one in that same range or slightly higher, it'll be lights out
And then these legacy auto don’t understand their dealerships don’t wanna sell electric vehicles they don’t make money. Why would they sell your vehicles It doesn’t benefit them if you can’t sell direct to consumer don’t even try.