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Marchionne Leaves Fiat Chrysler, Strategic Plan

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June 1, 2018—Fiat Chrysler's Sergio Marchionne laid out his final strategic plan on Friday, reported Reuters.

The plan will focus on sport utility vehicles and $10.5 billion investment plan for electric and hybrid cars, according to the report.

Marchionne will hand over control in early 2019 and he said the carmaker will phase out diesel engines in European passenger cars by 2021.

He said FCA would invest 9 billion euros by 2022 in hybrid and electric technology to ensure the world's seventh-largest carmaker complies with emissions rules, according to Reuters.

FCA also announced targets of expanding Jeep with nine new products and entering three new segments, including large sports utility vehicles, and offer four battery electric versions by 2022.  

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