A great-grandson of Chrysler founder Walter P. Chrysler has launched a campaign to take back control of the brand
Stellantis $STLA (STLA) is in something of a bind right now, it’s facing off against the Italian government, is struggling to sell Jeeps in a world of SUVs and might be about to head to court against its own shareholders. Because of this, the heir to the Chrysler family thinks it’s time for them to step in and save the historic American car brand from Stellantis.
Frank B. Rhodes, Jr. is the great-grandson to Chrysler founder Walter P. Chrysler and he isn’t too pleased with the way Chrysler is being run these days. As a result, he’s launched a campaign to take back control of the brand, as well as Dodge, Plymouth and Mopar, reports Motor1:
Rhodes made a short video discussing the need to protect Chrysler and Dodge’s future. It heavily relies on nostalgia, highlighting Chrysler’s first car from 1926 and the company’s involvement with the US military during World War II, which doesn’t exactly scream forward-thinking to any potential investors.
Rhodes’s proposal is light on how exactly he plans to create a new Chrysler Corporation that revives the Chrysler and Dodge brands. He told Mopar Insiders he wants to strike a “balance between innovation and tradition,” like introducing hybrid versions of classic models, focusing on high-performance cars, and broadening appeal with more affordable options, which doesn’t sound too far off from Matt McAlear’s hope for Dodge now that he’s at the helm.
Rhodes wants to buy the Chrysler, Dodge, Plymouth, and Mopar brands, operations, facilities, and employees to create a new Chrysler Corporation, giving Stellantis the opportunity to have a “graceful and profitable exit” from ownership duties. And he’s hopeful that potential investors can also see the value in reviving the brands but hope and potential won’t pay the bills alone.
Chrysler, Dodge and Plymouth won’t come cheap, when the automaker was originally purchased by Fiat back in 2014 the price sat at a cool $4.9 billion. Fiat Chrysler has since merged with France’s PSA Group to become the Stellantis we know and love today.
Under Stellantis’ ownership, Chrysler has had a far from troublesome tenure. At the end of 2023, the automaker posted 19 percent year-on-year growth and Dodge, likewise, was in the black with five percent year-on-year growth.
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