FCA Italy SpA ("FCA"), a wholly owned subsidiary of Fiat Chrysler Automobiles NV, and ENGIE EPS, the Italian technology player in Energy Storage and e-Mobility, have entered into a Memorandum of Understanding aimed at setting up a joint venture for create a leading company in the European e-Mobility landscape that will be able to make use of the financial resources and consolidated industrial experience of FCA and of the technological know-how and intellectual property portfolio of ENGIE EPS. The two companies will join forces to enter the new era of sustainable mobility with innovative solutions and services designed to allow everyone to access electric mobility in a simple and convenient way.

The new company will offer European electric vehicle customers a full range of products and solutions, such as residential, commercial and public charging infrastructure and green energy packages that will allow customers to charge their vehicle at home, or at any charging point. public throughout Europe, with a simple subscription with a fixed monthly fee.

The agreement will therefore create a new Italian e-Mobility technology player, with access to a portfolio of hundreds of patents and trade secrets, a solid team of electrical and systems designers, and a consolidated automotive industrial experience. The joint venture will in fact benefit from the contribution of both parties in terms of intellectual property, human and financial resources, and will focus on revolutionary solutions for the European e-Mobility market. The planned operation will represent an important strategic evolution of the product portfolios of the two Groups and an important step towards eliminating the barriers that hinder the transition to e-Mobility in Europe.

"The signing of this Memorandum of Understanding is the result of three years of fruitful collaboration between the two companies, a collaboration that has made it possible to carry out revolutionary projects, such as the easyWallbox created exclusively for FCA - a plug-and- play extremely intuitive - the recently launched V2G pilot project and the innovative energy packages dedicated to customers, ”said Mike Manley, CEO of Fiat Chrysler Automobiles.

"The joint venture we have conceived will allow for even greater involvement of both parties to broaden the scope of the current cooperation and further develop innovative products and services that foster and support a barrier-free transition to electric mobility in the European area."

“Electrification represents an inevitable trend destined to revolutionize urban mobility and, above all, an unstoppable paradigm shift in the global energy system. The signing of this Memorandum of Understanding is testimony to the common commitment aimed at accelerating this transformation towards a more sustainable future ”commented Carlalberto Guglielminotti, Chief Executive Officer and General Manager of ENGIE EPS. “Italy has left a profound mark on history with its excellence in the automotive sector and in the development of innovative technologies for the energy sector. The joint venture is an opportunity to consolidate this heritage and at the same time outline the way forward towards zero-emission mobility ”.

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

The two sides plan to sign the full set of agreements1 by the end of the year and set up the joint venture in the first quarter of 2021.

FCA and ENGIE EPS. Memorandum signed to create a leading company in the e-Mobility sector

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