Stellantis has excellent news for customers who need to make the change to battery-electric autos however cannot discover fashions inside their value vary.
The Franco-Italo-American auto conglomerate has introduced that it plans so as to add a second inexpensive battery-electric car to its lineup to compete with Renault and Chinese language automakers, particularly in Europe. The brand new EV will likely be a no-frills mannequin impressed by the Fiat Panda that can carry a price ticket of lower than 25,000 euros ($27,500), Fiat model CEO Olivier Francois mentioned in an interview, based on Bloomberg.
The manager mentioned the brand new Fiat entry-level EV will likely be unveiled in July 2024 to tackle Renault’s Dacia Spring. “There’s a actual want for extra inexpensive EVs,” Francois mentioned. Fiat’s entry-level EV will seemingly take inspiration from the Centoventi Idea unveiled in 2019.
Earlier this 12 months, Fiat additionally introduced the reintroduction of the electrical 500 to the USA in Q1 2024. The US is Stellantis’ largest and most worthwhile market.
Fiat’s father or mother firm beforehand introduced plans to start out promoting a completely electrical metropolis automotive from Citroën early subsequent 12 months. The small EV from the French model would even be priced underneath 25,000 euros and would provide a spread of over 186 miles (300 kilometers).
That mannequin will likely be known as the Citroën e-C3 and will likely be made in Slovakia, which can enable Stellantis to maintain prices low and higher compete with the Dacia Spring, which is made in China for Renault’s low-cost Dacia model. The Citroën e-C3 also needs to compete with the upcoming Renault 5, which will likely be made in France.
Since Stellantis is understood for the observe of sharing car platforms throughout its many manufacturers to cut back prices, the brand new entry-level EVs from Fiat and Citroën are additionally anticipated to share elements. Olivier Francois mentioned that “it is very seemingly that there will likely be synergies” with the platform used for the brand new Citroën e-C3.
Stellantis’ announcement comes because the stress on automakers to ship inexpensive EVs is growing, particularly in Europe the place Chinese language manufacturers are on the offensive. Automakers are additionally battling to retain mass-market patrons, who’ve seen their spending energy lowered by inflation.
Stellantis CEO Carlos Tavares final month warned that the center class will likely be priced out of the EV market if automakers cannot soak up the extra manufacturing prices they require. The manager mentioned the candy spot for inexpensive EVs is “round $25,000.”
He added that reaching this value level will likely be important to safeguarding the corporate’s US manufacturing footprint and famous that constructing inexpensive EVs which can be worthwhile is the “actual factor we needs to be discussing” with the UAW throughout negotiations this 12 months.