Chrysler Parent Takes Wraps Off Halcyon

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  • Arm Holdings' Stock Rises 99% In Past Five Days Previous Articles Subscribe to Get Small Cap News & Alerts Glenn Wilkin - Tuesday, February 13, 2024

    Chrysler Parent Takes Wraps off Halcyon

    Chrysler revealed the direction of its future products on Tuesday with a new concept car called“Halcyon,” as the once prominent auto company attempts to drum up attention amid a dearth of new products.

    The concept car is a sleek, future-looking sports car that's designed to incorporate emerging technologies such as autonomous driving and new battery materials and charging capabilities for electric vehicles. It features an updated Chrysler logo as well as other design characteristics that officials say will carry over into production vehicles.

    However, consumers will likely have to wait a bit to purchase a new Chrysler with such technologies or anything that potentially resembles the concept car.

    Following the discontinuation last year of the Chrysler 300 sedan, the brand's sole product is the Chrysler Pacifica minivan, including a plug-in hybrid electric model. Aside from an update to the minivan, Chrysler - owned by Stellantis (NYSE: STLA), the company formed via a merger between Fiat Chrysler and French automaker PSA Group - isn't expected to have a new vehicle until next year.

    That new vehicle – a crossover, not a car – is anticipated to be Chrysler's first all-electric vehicle, as the brand transitions to exclusively offer“a full lineup of innovative, seamlessly connected” EVs by 2028.

    Christine Feuell, who has been Chrysler CEO since September 2021, said the company expects to roll out such a lineup of vehicles“in quick succession” after the EV crossover next year.

    STLA shares faded 27 cents, or 1.1%, Tuesday to $24.23.

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