Another low-cost electric vehicle is headed to the US. According to Stellantis CEO Carlos Tavares, Jeep plans to launch a $25,000 EV in the US “very soon.”
A $25,000 Jeep EV is coming to the US soon
Jeep’s first fully electric vehicle for the US will officially debut this week. Meanwhile, the rugged SUV brand is already planning a more affordable EV model.
Tavares said, “In the same way we brought the 20,000 Euro Citroen e-C3, you will have a $25,000 Jeep very soon,” at a Bernstein investor conference Wednesday.
Stellantis already offers the Jeep Avenger EV in Europe, starting at around 35,000 euros, or roughly $37,800. However, the first Jeep to launch in the US, the Wagoneer S, is expected to be priced at a premium. A Wrangler-inspired electric Recon model will follow.
“If you ask me what is an affordable BEV, I would say 20,000 euros in Europe and $25,000 in the US,” Tavares said. “Our job is to bring the safe, clean, and affordable BEV to the US,” he added, “We’ll do it.”
According to Cox Automotive data, the Nissan LEAF and Ariya were the two most affordable EVs in the US in Q1 2024, with average selling prices of $27,956 and $35,556, respectively.
More affordable EVs hitting the market
If Jeep were to launch a $25,000 EV in the US, it would immediately become one of the most affordable options.
Tavares said he expects the company’s EVs to reach cost parity with gas-powered cars within the next three years. The comments come as Chinese rivals, like BYD, are already launching extremely low-priced EVs like its new Seagull, starting at $9,700 (69,800 yuan) in China.
Jeep’s affordable $25,000 EV plans come as several rivals, including Volkswagen, are also targeting the entry-level electric car market.
VW confirmed its plans to debut a $21,800 (20,000 euro) EV in 2027 this week. However, this model is likely aimed at Europe.
Others, like Kia, have announced an entire lineup of affordable EVs. Kia is launching the EV3 next month in Korea, with prices expected to start at around $30,000.
Several rivals already have low-cost EVs rolling out soon, including Volvo’s EX30 ($34,950) and the Chevy Equinox EV ($34,995).
Would you buy an all-electric Jeep for under $25,000? Let us know in the comments.
Source: CNBC