Stellantis\u00a0plans to offer a $25,000 all-electric Jeep vehicle in the U.S. \u201cvery soon\u201d to better attract mainstream consumers amid slower-than-expected electric vehicle adoption, CEO Carlos Tavares said Wednesday.<\/p>\n
Tavares disclosed few details about the upcoming vehicle, saying it will be priced around $25,000 in the U.S. to emulate Stellantis\u2019 pricing of the Citroen e-C3 SUV, a low-cost model starting at\u00a023,300 euros, or about $25,200,\u00a0in Europe.<\/p>\n
\u201cIn the same way we brought the 20,000 Euro Citroen e-C3, you will have a $25,000 Jeep very soon,\u201d he said Wednesday during a\u00a0Bernstein investor conference.\u00a0\u201cWe are using the same expertise because we are a global company and this is totally fluid across the engineering world of Stellantis.\u201d<\/p>\n
Stellantis currently offers an all-electric version of its Avenger SUV in Europe, starting at about 35,000 euros, or about $37,800, according to its\u00a0website. The vehicle is not sold in the U.S., where the automaker has focused on plug-in hybrid electric Jeep vehicles.<\/p>\n
Offering a new EV for around $25,000 has long been a target for automakers such as Stellantis,\u00a0Tesla\u00a0and others. The importance of such a vehicle has grown more apparent as Chinese automakers such as BYD\u00a0and\u00a0Nio\u00a0grow their sales\u00a0of less-expensive EVs\u00a0outside of China.<\/p>\n
\u201cIf you ask me what is an affordable BEV, I would say 20,000 euros in Europe and $25,000 in the U.S.,\u201d Tavares said. \u201cSo our job is to bring the safe, clean and affordable BEV to the U.S., $25,000. We\u2019ll do it.\u201d<\/p>\n
Jeep\u2019s first all-electric vehicle for the U.S. is expected to be the large\u00a0Wagoneer S SUV, due later this year. The company is scheduled to officially reveal the vehicle Thursday in New York. A Jeep Wrangler-inspired off-road vehicle called the Recon also is expected as soon as this year.<\/p>\n
Tavares said Wednesday that the company expects to achieve cost parity between its all-electric vehicles and traditional internal combustion engine vehicles in the next \u201cthree years, max\u201d to better compete with the growing \u201cChina invasion\u201d of affordable EVs.<\/p>\n
\u201cIt\u2019s a very challenging period, very chaotic, very Darwinian,\u201d Tavares said regarding the Chinese competitors, EV transition and potential consolidation of the automotive industry. \u201cWe are in the storm, and this storm is going to last a few years.\u201d<\/p>\n
Tavares\u2019 comments come amid increasing geopolitical tensions surrounding\u00a0China-made EVs\u00a0in the U.S., Europe and other regions. Many in and around the automotive industry fear the less-expensive, China-made vehicles\u00a0will flood the markets, undercutting domestic-produced EVs.<\/p>\n
Tavares also said\u00a0tariffs such as those the U.S.\u00a0is implementing against Chinese EVs may delay their expansion to the U.S. but will not completely stop it.<\/p>\n
\u201cYes, time helps, but you cannot stop the competition,\u201d Tavares said. \u201cPutting you behind a protectionist bubble is not going to help you to be competitive. \u2026 If your strategy is to shrink and stay inside of the bubble, it will buy you time, but certainly it will cut your future.\u201d<\/p>\n
The Biden administration\u2019s 100% tariff announced earlier this month, up from a current import tax of about 25%, covers EVs imported from China but could still leave room for the often-cheap Chinese models to undercut domestic prices and leaves loopholes for imports made by Chinese automakers in other countries, such as neighboring Mexico. It also does nothing to address current or future gas-powered vehicles imported from the Communist country to the U.S.<\/p>\n<\/p>\n
Stellantis\u00a0plans to offer a $25,000 all-electric Jeep vehicle in the U.S. \u201cvery soon\u201d to better attract mainstream consumers amid slower-than-expected electric vehicle adoption, CEO Carlos Tavares said Wednesday. Tavares disclosed few details about the upcoming vehicle, saying it will be priced around $25,000 in the U.S. to emulate Stellantis\u2019 pricing of the Citroen e-C3 SUV, […]<\/p>\n","protected":false},"author":0,"featured_media":5019,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-5018","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business"],"_links":{"self":[{"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/posts\/5018","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/comments?post=5018"}],"version-history":[{"count":0,"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/posts\/5018\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/media\/5019"}],"wp:attachment":[{"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/media?parent=5018"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/categories?post=5018"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/tags?post=5018"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}