$25,000 Jeep EV is coming to the US very soon, Stellantis CEO says

Stellantis CEO Carlos Tavares says a $25,000 Jeep EV is coming to the US market "very soon". He made the remark during a Bernstein investor conference.

According to him, this model will be used to better attract mainstream consumers amid slower-than-expected EV adoption. "In the same way we brought the €20,000 Citroen e-C3, you will have a $25,000 Jeep very soon", he said. "We are using the same expertise because we are a global company and this is totally fluid across the engineering world of Stellantis", he continued.

The Jeep Avenger EV is being offered in Europe for around €35,000, which is about $37,900 at the current exchange rate. So the model Tavares is talking about will even be significantly cheaper than that one. The Avenger isn't offered in the US, where Jeep has so far focused on plug-in hybrids.

Tavares continued: "If you ask me what is an affordable BEV, I would say €20,000 in Europe and $25,000 in the US. So our job is to bring the safe, clean and affordable BEV to the US, $25,000. We'll do it".

Before that happens, Jeep's first all-electric model for the US will be the Wagoneer S SUV, which is due to arrive later this year. A Jeep Wrangler-inspired model called Recon is also expected as soon as this year - though it was initially aimed to land in 2025.

Tavares had some interesting words regarding the Biden administration's 100% tariff on Chinese EVs: "Yes, time helps, but you cannot stop the competition. Putting you behind a protectionist bubble is not going to help you to be competitive. If your strategy is to shrink and stay inside of the bubble, it will buy you time, but certainly it will cut your future".

The CEO expects Stellantis to achieve cost parity between its all-electric vehicles and ICE vehicles in the next three years to better compete with the growing "China invasion" of affordable EVs.

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