Photo: Jeep
Stellantis is the last of the Detroit Three to bring an electric vehicle to the US market, although it didn't lack plans. In a CNBC interview, Stellantis CEO Carlos Tavares confirmed that a $25,000 all-electric Jeep will launch in the US "very soon."
Legacy carmakers are constantly whining about the lack of demand for electric vehicles. They think this is because EVs are expensive, so they focus on bringing more affordable models to market. The move is rather strange, considering that all traditional carmakers are losing money on their EV models. Dropping the prices even more would not help them reach profitability. However, here they are, ready to fight a price war with Tesla and even Chinese carmakers.
So far, GM and Ford have tried their hands at building electric vehicles with varying degrees of success. GM appears further ahead based on the number of EV models in its portfolio, although Ford has an edge in the number of EVs sold. Missing from this picture, at least in the US, is Stellantis, which owns Chrysler, Jeep, Dodge, Ram, Fiat, and a bunch of other European brands. Stellantis only sells two electric vehicles in the US, the Fiat 500e and the Ram ProMaster EV. However, it has ambitious plans for all its American brands.
Stellantis CEO Carlos Tavares told CNBC that Jeep will offer an affordable EV model in the US "very soon." Jeep has no EV in its North America lineup, although it sells an electric variant of the Jeep Avenger in Europe. This is rather affordable, at 35,000 euros ($38,000), but Tavares wants an even cheaper model, selling at around $25,000. And he is not bluffing, either: although its company lags behind competition in the US, it's not short of affordable EV models in Europe.
Although Tavares hasn't offered many details about the upcoming all-electric Jeep, he hinted at the European Citroen e-C3 crossover. The low-cost EV starts at 23,300 euros in Europe, translating into about $25,300 in the US. Jeep doesn't have to work hard to bring such an affordable EV to the US market. It can simply badge-engineer it, as it did with the Ram ProMaster EV.
Tavares sees the $25,000 EV as a means to fight the growing "China invasion" of affordable EVs. He also thinks such an affordable EV will help attract mainstream consumers amid a lower-than-expected EV adoption. If Tavares gets it right, Jeep will beat Tesla to the punch with an affordable EV model. However, this is not guaranteed to attract more customers. The Chevrolet Bolt EV was the most affordable EV in the US for more than a year, but it did not make a dent in Tesla's sales.
Jeep appears to be Stellantis EV spearhead in North America. The all-electric Wagoneer S and Recon are expected to launch by the end of 2024. Ram Trucks, another Stellantis brand, will also start deliveries of the all-electric Ram 1500 REV later this year. Importing in the US some of the electric models it already sells in Europe under various brands will allow Stellantis to emerge as the unlikely leader of the legacy EV maker pack without much effort. It remains to be seen if this will be enough to succeed.
So far, GM and Ford have tried their hands at building electric vehicles with varying degrees of success. GM appears further ahead based on the number of EV models in its portfolio, although Ford has an edge in the number of EVs sold. Missing from this picture, at least in the US, is Stellantis, which owns Chrysler, Jeep, Dodge, Ram, Fiat, and a bunch of other European brands. Stellantis only sells two electric vehicles in the US, the Fiat 500e and the Ram ProMaster EV. However, it has ambitious plans for all its American brands.
Stellantis CEO Carlos Tavares told CNBC that Jeep will offer an affordable EV model in the US "very soon." Jeep has no EV in its North America lineup, although it sells an electric variant of the Jeep Avenger in Europe. This is rather affordable, at 35,000 euros ($38,000), but Tavares wants an even cheaper model, selling at around $25,000. And he is not bluffing, either: although its company lags behind competition in the US, it's not short of affordable EV models in Europe.
Although Tavares hasn't offered many details about the upcoming all-electric Jeep, he hinted at the European Citroen e-C3 crossover. The low-cost EV starts at 23,300 euros in Europe, translating into about $25,300 in the US. Jeep doesn't have to work hard to bring such an affordable EV to the US market. It can simply badge-engineer it, as it did with the Ram ProMaster EV.
Tavares sees the $25,000 EV as a means to fight the growing "China invasion" of affordable EVs. He also thinks such an affordable EV will help attract mainstream consumers amid a lower-than-expected EV adoption. If Tavares gets it right, Jeep will beat Tesla to the punch with an affordable EV model. However, this is not guaranteed to attract more customers. The Chevrolet Bolt EV was the most affordable EV in the US for more than a year, but it did not make a dent in Tesla's sales.
Jeep appears to be Stellantis EV spearhead in North America. The all-electric Wagoneer S and Recon are expected to launch by the end of 2024. Ram Trucks, another Stellantis brand, will also start deliveries of the all-electric Ram 1500 REV later this year. Importing in the US some of the electric models it already sells in Europe under various brands will allow Stellantis to emerge as the unlikely leader of the legacy EV maker pack without much effort. It remains to be seen if this will be enough to succeed.
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