American Invest Hub
  • Politics
  • Investing
  • Business
  • Latest News

American Invest Hub

  • Politics
  • Investing
  • Business
  • Latest News
Business

Stellantis CEO says $25,000 Jeep EV coming to the U.S. ‘very soon’

by admin May 31, 2024
May 31, 2024
Stellantis CEO says $25,000 Jeep EV coming to the U.S. ‘very soon’

Stellantis plans to offer a $25,000 all-electric Jeep vehicle in the U.S. “very soon” 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’ pricing of the Citroen e-C3 SUV, a low-cost model starting at 23,300 euros, or about $25,200, in Europe.

“In the same way we brought the 20,000 Euro Citroen e-C3, you will have a $25,000 Jeep very soon,” he said Wednesday during a Bernstein investor conference. “We are using the same expertise because we are a global company and this is totally fluid across the engineering world of Stellantis.”

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 website. The vehicle is not sold in the U.S., where the automaker has focused on plug-in hybrid electric Jeep vehicles.

Offering a new EV for around $25,000 has long been a target for automakers such as Stellantis, Tesla and others. The importance of such a vehicle has grown more apparent as Chinese automakers such as BYD and Nio grow their sales of less-expensive EVs outside of China.

“If you ask me what is an affordable BEV, I would say 20,000 euros in Europe and $25,000 in the U.S.,” Tavares said. “So our job is to bring the safe, clean and affordable BEV to the U.S., $25,000. We’ll do it.”

Jeep’s first all-electric vehicle for the U.S. is expected to be the large Wagoneer 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.

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 “three years, max” to better compete with the growing “China invasion” of affordable EVs.

“It’s a very challenging period, very chaotic, very Darwinian,” Tavares said regarding the Chinese competitors, EV transition and potential consolidation of the automotive industry. “We are in the storm, and this storm is going to last a few years.”

Tavares’ comments come amid increasing geopolitical tensions surrounding China-made EVs in the U.S., Europe and other regions. Many in and around the automotive industry fear the less-expensive, China-made vehicles will flood the markets, undercutting domestic-produced EVs.

Tavares also said tariffs such as those the U.S. is implementing against Chinese EVs may delay their expansion to the U.S. but will not completely stop it.

“Yes, time helps, but you cannot stop the competition,” Tavares said. “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 Biden administration’s 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.

This post appeared first on NBC NEWS

0
FacebookTwitterGoogle +Pinterest
previous post
Global debt has grown to $315 trillion this year — here’s how we got here
next post
McDonald’s might never expand CosMc’s. But the spinoff could still pay dividends.

Related Posts

Amazon stock price forecast: a drop to $188...

January 24, 2025

Why did activist investor Elliott build a short...

March 29, 2025

BYD’s Q1 sales surge 58% to 986,098, March...

April 1, 2025

Top 3 reasons why I’m buying Reddit stock...

November 23, 2024

PepeX poised for 250% presale surge while PEPE...

April 6, 2025

Boeing, Alaska Airlines point fingers at each other...

March 15, 2024

Why competition in the housing market is cooling...

June 17, 2024

Coinbase stock vs CONY ETF: Better buy as...

December 5, 2024

Stellantis plunges 14% after lowering forecast: what’s driving...

September 30, 2024

TSX Composite index rallied in 2024: here are...

December 13, 2024

    Stay updated with the latest news, exclusive offers, and special promotions. Sign up now and be the first to know! As a member, you'll receive curated content, insider tips, and invitations to exclusive events. Don't miss out on being part of something special.


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Latest News

    • Interview: Strategic location gives Brazil Potash cost advantage in domestic fertiliser market, says CEO Matt Simpson

      June 1, 2025
    • Canada’s Q1 GDP expands by 2.2%, driven by exports spike ahead of potential US tariffs

      June 1, 2025
    • President Trump to host farewell for Elon Musk as DOGE leader steps away

      June 1, 2025
    • UK’s digital banks face divergent fortunes: Starling stumbles, Monzo and Revolut soars

      June 1, 2025
    • Trump wants Apple to shift iPhone production from India to the US: here’s what it means

      May 18, 2025

    Categories

    • Business (3,022)
    • Investing (2,459)
    • Latest News (1,994)
    • Politics (1,530)
    • About us
    • Contact us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: americaninvesthub.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2025 americaninvesthub.com | All Rights Reserved