This electric vehicle is only $25,000

Stellantis CEO Carlos Tavares announced that a Jeep electric vehicle with a price tag of $25,000 will be coming to the US market “very soon.” Bernstein made this statement at the investor conference. Tavares stated that this model will be used to better attract mainstream consumers during the slower-than-expected transition to electric vehicles. “Just as we introduced the €20,000 Citroen e-C3 model, you will soon have a $25,000 Jeep,” he said. “We are a global company and are completely fluid in this world of engineering,” he added.

The Jeep Avenger EV retails for around €35,000 ($37,900) in Europe. In this case, the model Tavares mentioned will be significantly cheaper than even this price. The Avenger is not yet available in the US, and Jeep has focused on hybrid models in the US so far. Tavares emphasized that an affordable electric vehicle to be introduced to the US market should be $25,000 and said that they will achieve this target.

Jeep’s first all-electric model for the US, the Wagoneer S SUV, will hit the market later this year. Additionally, the Jeep Wrangler-inspired Recon model could also be introduced this year instead of 2025. Tavares also talked about the 100% customs duty on electric vehicles coming from China. “Yes, time helps, but you can’t stop competition. Locking yourself in a protectionist bubble doesn’t increase your competitiveness. This strategy buys you time but cuts off your future,” he said.

Tavares stated that Stellantis plans to equalize the cost of electric vehicles with internal combustion engine vehicles and that they will achieve this goal within three years. This move aims to be more competitive in the face of the “Chinese invasion”, where competition with affordable electric vehicles is increasing.