WEBVTT - Jeep Brand CEO Antonio Filosa Talks Jeep Wagoneer S

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<v Speaker 1>Now let's talk about cars, because Jeep is unveiling its

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<v Speaker 1>first all electric suv in the US, the Jeep Wagoneers.

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<v Speaker 1>It will retail for about seventy two thousand dollars and

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<v Speaker 1>it will hit the market this fall. Join us now

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<v Speaker 1>for more. I'm thrilled to say we have Antonio Filosa.

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<v Speaker 1>He is the CEO of the Jeep brand. Let's talk

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<v Speaker 1>about that price tag. Seventy two thousand dollars. That's relatively

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<v Speaker 1>high compared to some of your competitors.

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<v Speaker 2>Talk us through the pricing strategy there.

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<v Speaker 3>Yeah, So the value that we put in this car

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<v Speaker 3>is absolutely outstanding. This is the fastest Jeep ever. It

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<v Speaker 3>goes from zero to sixty in less than three point

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<v Speaker 3>four to seven. It's got a range of three hundred

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<v Speaker 3>miles plus, it's got to talk over six hundred and

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<v Speaker 3>seventeen pound feet. Talking of technology, forty five inches of

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<v Speaker 3>usable screens inside, an unbelievable selection of very precious material,

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<v Speaker 3>and the sense of craftmanship in the car. It all

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<v Speaker 3>all that with an unbelievable and unbelievably aerodynamic design. So

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<v Speaker 3>we believe that all the value that is in the earth,

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<v Speaker 3>the price is pretty competitive and by the way, it's

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<v Speaker 3>exactly in the middle of the of the segment midsize

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<v Speaker 3>as your big segment.

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<v Speaker 4>The pre order are open today.

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<v Speaker 3>Four clicks go to from Jep to comjip dot com,

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<v Speaker 3>four clicks to get your car. You choose your color,

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<v Speaker 3>your interiors, your dealer, and you buy it.

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<v Speaker 4>So please do that.

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<v Speaker 2>So there you go, point taking that.

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<v Speaker 1>When it comes to the price tag, of course we're

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<v Speaker 1>talking about speed and we're talking about features. But even still,

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<v Speaker 1>I'm curious to hear a little bit more about Jeep's

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<v Speaker 1>pricing strategy overall, because the narrative out there is that

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<v Speaker 1>prices are too high, Jeep is losing share in the US,

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<v Speaker 1>and that inventory at dealerships is piling up. So how

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<v Speaker 1>do you adjust at this point? Do you cut prices?

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<v Speaker 1>Do you cut production?

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<v Speaker 2>What's next?

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<v Speaker 3>So we will have a second off with many new

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<v Speaker 3>launches and product action and issue one of On those occasions,

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<v Speaker 3>we will work on product competitiveness, so we will give

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<v Speaker 3>to have a dealer more competitiveness to sell more Jips

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<v Speaker 3>and also other Stellants car. So we believe that second

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<v Speaker 3>Alpha will be the perfect timing to adjust inventory while

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<v Speaker 3>we will work on technology on innovation and product competitiveness

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<v Speaker 3>through price mostly and through incentive as well.

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<v Speaker 1>So through price through incentive, it sounds like production levels

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<v Speaker 1>not necessarily going to change there.

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<v Speaker 3>Production I believe it can stay at the level it is. Obviously,

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<v Speaker 3>we will monitor week by week and month from a

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<v Speaker 3>month to see if some fine tuning is needed. But

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<v Speaker 3>the point is to heat up the sales, and to

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<v Speaker 3>heat up the sales, we'll launch product action associated to

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<v Speaker 3>price competitiveness sections.

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<v Speaker 1>All right, So addressing that through demand, trying to boost

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<v Speaker 1>demand rather than supply.

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<v Speaker 2>Really appreciate the color there.

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<v Speaker 1>I do want to talk about something that the CEO

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<v Speaker 1>of Silantis said, of course Silant is being parent company,

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<v Speaker 1>saying that the company plus rule out a twenty five

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<v Speaker 1>thousand dollars ev in the US quote very soon.

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<v Speaker 2>How soon is very soon?

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<v Speaker 3>Well, it said very soon, So I confirmed that I

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<v Speaker 3>cannot say how soon. In the next one year, GIP

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<v Speaker 3>only s three important launches on the same platform. So

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<v Speaker 3>today you saw jeep Wagons, Please preorder online for clicks

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<v Speaker 3>to have your Gepagons.

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<v Speaker 4>Then you will have another.

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<v Speaker 3>One, which is jeep Racon in three months, and then

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<v Speaker 3>you will have another one. I cannot display it I

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<v Speaker 3>cannot say the name, but it's gonna compete in the

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<v Speaker 3>mainstream mid suv segment. So we have three Jeep cars

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<v Speaker 3>on the same platform built in North America, designed by

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<v Speaker 3>American engineers, that will be available to the market in

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<v Speaker 3>less than twelve months in the core of the market,

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<v Speaker 3>which is the mid suv segment, that is a segment

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<v Speaker 3>of four point two million units sold. Preer's a Arges

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<v Speaker 3>segment in the planet. We come from zero cars in

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<v Speaker 3>that segment. JEP will be with three in less than

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<v Speaker 3>one year.

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<v Speaker 1>All right, So it's four clicks, not five, not three

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<v Speaker 1>to have pre order that Jeep there. But I understand

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<v Speaker 1>that you won't tell me the name or specifics on

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<v Speaker 1>the timing of when we could see that twenty five

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<v Speaker 1>thousand dollars EV. But I have to try to make

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<v Speaker 1>some news here, So can you give us any color

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<v Speaker 1>on where it will actually be built, what platform that

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<v Speaker 1>you plan to use.

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<v Speaker 3>Those three cars that I mentioned, they will be built

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<v Speaker 3>in Toluca, Mexico on stell a large platform, which is

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<v Speaker 3>the platform that is that that plan. The twenty five

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<v Speaker 3>thousand BV Jeep will be built later later so after

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<v Speaker 3>this year, and we still identifying the plant. The platform

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<v Speaker 3>is that what we call stell a small or smart car,

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<v Speaker 3>which is a very competitive platform. That's why we are

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<v Speaker 3>able to build such a big value JIP branded in

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<v Speaker 3>twenty five thousand BB. We will have also other options.

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<v Speaker 3>Our strategy is freedom of choice. That means that out

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<v Speaker 3>of the seven powertrain system available today in the market,

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<v Speaker 3>we will offer to the market six in our range,

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<v Speaker 3>so our customer can buy BBS if they want, but

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<v Speaker 3>can buys HIV plug in hybrid mild ibrid icee extended

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<v Speaker 3>the range that we are launching next year, So we

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<v Speaker 3>are full of novelties in the next twelve to twelve

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<v Speaker 3>months and later.

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<v Speaker 2>All right, So definitely a lot to keep an eye

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<v Speaker 2>on there.

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<v Speaker 1>When it comes to Jeep and your future plans, I

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<v Speaker 1>am curious about what your ambition is when it comes.

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<v Speaker 2>To where you are geographically.

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<v Speaker 1>I was talking to our resident car guy, Matt Miller

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<v Speaker 1>this morning and he made the point that there aren't

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<v Speaker 1>really many Jeep dealers in Europe. For example, if you

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<v Speaker 1>want to buy a car there, you have to do it.

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<v Speaker 2>Through an importer.

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<v Speaker 1>How global do you really want to be when it

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<v Speaker 1>comes specifically to Jeep.

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<v Speaker 3>Oh, we are the most global brand of stell Lands.

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<v Speaker 3>Last year we sold one million units, being seventy percent

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<v Speaker 3>in North America, but there is a large part fifteen

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<v Speaker 3>percent in soth America, fifteen percent in Europe and the

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<v Speaker 3>rest of all the world. So our global stands as

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<v Speaker 3>JEP give us the opportunity to assess of global scales

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<v Speaker 3>and global scales and volumes. Obviously it means to a

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<v Speaker 3>brand of cars, the possibility to create synergy, to have

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<v Speaker 3>access to higher resource and invest in more innovation, for

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<v Speaker 3>instance in power trends. So to be global is very

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<v Speaker 3>important for JEEP. Obviously we are deep into American roots.

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<v Speaker 3>We are the most patriotic brand overall. This is recognized

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<v Speaker 3>by Americans at every year b voting about that there

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<v Speaker 3>is a survey the states that Jeep is the most

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<v Speaker 3>parodic brand overall. So we come in in this survey

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<v Speaker 3>before this day for instance, before McDonald's for instance. So

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<v Speaker 3>we are very very very recognized as America, but we

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<v Speaker 3>are global. At this global aspect of our business give

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<v Speaker 3>us access to global scales, which is important when it

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<v Speaker 3>comes to product development.

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<v Speaker 1>So commodity being global, I want to talk about your

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<v Speaker 1>commitment to battery electric vehicles full evs versus hybrids for example,

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<v Speaker 1>which a lot of your competitors are pivoting more heavily too.

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<v Speaker 2>How are you thinking about that as you.

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<v Speaker 1>Look to the future, are you going to really double

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<v Speaker 1>down on fully vs here or is maybe the future

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<v Speaker 1>looking a little bit more hybrid.

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<v Speaker 3>We we are we have the possibility to offer to

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<v Speaker 3>the market absolutely everything. So our strategy freedom or choice

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<v Speaker 3>give us the flexibility to develop many, many, many innovation

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<v Speaker 3>set technologies for the same market. So, for instance, now

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<v Speaker 3>we are in a moment where the PASO growth of

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<v Speaker 3>batteriety vehicle is there, but not at the level that

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<v Speaker 3>we thought. We will launch very soon Extended Range, which

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<v Speaker 3>is a reeve so a kind of ibry technology for

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<v Speaker 3>this is next year. We will launch after the big

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<v Speaker 3>success of Range, which is a PHV and grantual key

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<v Speaker 3>for b which is a PHIV, a Gladiat or Jeep

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<v Speaker 3>gladiad or the pick up PHV as well, and we

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<v Speaker 3>will launch other in the rest of the wars such

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<v Speaker 3>as mild dabbing and Rabbit. So to Jeep, the point

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<v Speaker 3>is how much time do we need to offer on

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<v Speaker 3>very versatile platform the power thread that in that moment

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<v Speaker 3>the market is willing, and our engineering give us the

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<v Speaker 3>possibility switch in six months, six months on the same

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<v Speaker 3>platform for one power thing to another.

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<v Speaker 1>And Antonio, I only have about thirty seconds left with you.

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<v Speaker 1>But before I let you go, tell me about the

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<v Speaker 1>future of gas powered jeeps. Are you still going to

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<v Speaker 1>keep producing them or scale back production?

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<v Speaker 4>No? No, we're producing that for sure. For sure. It's

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<v Speaker 4>one of our power three that we want to offer.

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<v Speaker 1>Yes, all right, so still committed there to that gas

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<v Speaker 1>powered vehicle. Really appreciate your time, Antonio, No, it's a

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<v Speaker 1>busy day for you. That, of course is Antonio Filosa.

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<v Speaker 1>He is the CEO of Jeep