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(Reuters) – Frank B. Rhodes Jr., the great-grandson of Chrysler’s founder, said on Friday he has made an offer to Stellantis for its Chrysler and Dodge brands, but the 14-brand automaker has no plans to sell any of them.
The heir did not give details on the amount of the offer or its terms, but denounced “the downward spiral under the ownership of Stellantis.”
“My plan is to make a classic comeback for the Chrysler brands. It’s good for America, it’s good for the economy, it’s good for employees,” Frank B. Rhodes said in a statement.
In an open letter to Carlos Tavares, Stellantis CEO Frank B. Rhodes castigates the management of the European manufacturer, born from the merger between PSA and FCA, which he accuses of wanting to erase the historical heritage of the brand and its link with American automobile culture.
“Stellantis reaffirms the company’s commitment to its entire portfolio of 14 powerful, iconic brands, each of which has been given a 10-year time horizon to build a profitable and sustainable business,” a Stellantis spokesperson said in a statement provided to Reuters.
“Like the Jeep and Ram brands, Chrysler and Dodge are at the forefront of Stellantis’ transformation to clean mobility, benefiting from the group’s advanced technology and scale. The company has no plans to separate any of its brands from the rest of the group,” he added.
Founded in 1925 and acquired by Stellantis in 2021, Chrysler was long one of the “big three” of American automakers, but was hit hard by the industry’s crisis of 2008-2010.
When it published its first-half results at the end of July, marked by a deterioration in operational and commercial performance in North America, Stellantis committed to taking corrective measures and also warned that it would not hesitate to stop the least performing of its many brands.
(Written by Augustin Turpin, with Gilles Guillaume, edited by Kate Entringer and Jean-Stéphane Brosse)
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