Company News

Fiat Chrysler will ditch diesel from its cars by 2022: FT

FILE PHOTO - A screen displays the ticker information for Fiat Chrysler Automobiles NV at the post where it's traded on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., January 12, 2016. REUTERS/Brendan McDermid

MILAN (Reuters) - Fiat Chrysler FCHA.MIFCAU.N plans to eliminate diesel from all its passenger vehicles by 2022, amid a collapse in demand and spiraling costs, the Financial Times reported on Monday.

Under a four-year plan to be unveiled on June 1, the car-maker will announce it intends to phase out the fuel type from the cars across its brands, the FT said, citing people familiar with the company strategy.

Contacted by Reuters on Monday, Fiat Chrysler declined to comment on the report.

Reporting by Francesca Landini, editing by Louise Heavens