Stellantis CEO Carlos Tavares, the leader behind brands including Jeep, Ram, Dodge, Fiat, and several others, has a warning for other automakers. Tavares said EVs must be affordable but profitable, or they will be “in trouble very, very soon.”
To attract middle-class shoppers, lower EV prices are needed. “You can only solve this if you reduce cost,” Tavares said at the Goldman Sach conference, adding, “and this is something we are reasonably good at.”
Tavares pointed to cheaper EVs, including the upcoming Citroen e-C3, starting at around $25,000 (23,300 euros). Stellantis said the new Citroen EV is the “first European affordable electric car.”
The new EV rides on a version of Stellantis‘ “Smart Car” platform, used in India to enable low prices.
According to Automotive News, Tavares said Stellantis’ electrified vehicles are “in the black, both in the US and Europe.” The automaker’s leader said EV margins are nearing those of ICE vehicles.
In Europe, Tavares said the brand is “fighting head-on” with Tesla for EV sales in Europe. Natalie Knight, Stellantis CFO, said the automaker overtook Tesla for second in European EV sales.
Tavares said the recent deal with Leapmotor will help them deliver profitable EVs in Europe. He said that by working with Leapmotor, Stellantis is “starting with a sourcing point which is 30 percent more cost competitive than anything you can figure out in the Western world.”
The brand’s leader explained, “The guys who are not able to make money with EVs are going to be in trouble very, very soon.”
Stellantis is closing the gap faster in Europe “because we started sooner,” Tavares said. The brand will kick off its EV offensive with several new electric models coming from Ram, Jeep, and Fiat.
Stellantis to launch affordable EVs (and pricier models)
Under its Dare Forward 2030 plant, the company aims for 100% of European sales to be electric by 2030. In the US, Stellantis expects about 50% EV sales share.
Fiat will kick things with the new Fiat 500e early next year. The new electric car will be one of the most affordable EVs on the market, with starting prices under $33,000. It will also be the lightest passenger EV on the market with up to 149 miles range.
The electric model is already a top-selling EV in Europe as Stellantis looks to make its mark in the US.
Ram’s first electric pickup, the Ram 1500 REV, will begin rolling out in late 2024. It will compete with Ford’s F-150 Lightning, Rivian R1T, and recently launched Tesla Cybertruck. Ram is also launching its ProMaster electric commercial van.
The company has yet to reveal prices for the upcoming EV truck, but it’s expected to be well over the $61K Tesla Cybertruck starting price.
Jeep, another Stellantis brand, is launching its first EVs in the US next year. The Jeep Recon and Wagoneer are poised to lead the brand into a new era.
The Jeep Recon is inspired by the brand’s legendary Wrangler as a “rugged and fully capable electric SUV.” The Recon includes options like removable doors and windows to give the true Wrangler feel.
Jeep’s next EV will be an electric version of its premium Wagoneer model. The Jeep Wagoneer S features long-range capabilities with roughly 600 hp. According to Jeep, the premium EV can travel from NYC to Toronto on a full battery (~490 mi, according to Google Maps).
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The first EV charging hub funded by the Charging and Fueling Infrastructure (CFI) Program in the Eastern US is now online in Deerfield, Massachusetts.
The town installed the region’s first DC fast chargers (four ports), along with four Level 2 chargers, at 59 North Main Street in South Deerfield.
These new charging stations, funded with $2.46 million from the CFI program, are conveniently located near Interstate 91 in Franklin County, the most rural county in Massachusetts, which serves drivers from Connecticut up to the Canadian border.
The hub also features local and regional bus stops and designated bike lanes with secure onsite bike racks. The chargers are meant to cater to everyone: from local residents and visitors to municipal EVs and commercial vehicles that service the region’s businesses, like those in food and beverage manufacturing.
Gabe Klein, executive director of the Joint Office of Energy and Transportation, sees this as a model for future projects:
Multi-modal charging hubs in communities are key to giving more people the choice to ride and drive electric. The Town of Deerfield is showing leadership in building out convenient charging infrastructure that brings new transportation choices to rural and disadvantaged communities while supporting local commerce.
In recent years, Deerfield has experienced increased climate change-driven flooding from nearby rivers, including the Deerfield River, the Connecticut River, and the Bloody Brook. The project incorporates environmental engineering designed to mitigate and adapt to the effects of flooding and climate, including the installation of permeable asphalt and rain gardens, planting of native trees, grasses, and shrubs, and the creation of new greenspace in the center of Deerfield.
The Biden-Harris administration’s CFI Grant Program is expanding EV infrastructure nationwide. It offers grants for projects that complement and expand upon the initiatives of the NEVI program in urban, rural, and disadvantaged and low-income communities. So far, the CFI Grant Program has allocated over $1 billion to nearly 100 projects across the US, encouraging private investments and expanding the EV charging network to make EV ownership more practical and convenient.
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Kia’s upcoming EV4 electric sedan was just spotted testing in the US for the first time. The low-cost EV is expected to make its big debut by the end of the year. Here’s a look at the new model.
The EV4 will round out Kia’s new “EVs for all” master plan launched last year. Kia showcased three new models, the EV3, EV4, and EV5, during its first annual EV Day in October 2023.
During the event, Kia outlined its new global strategy to “lead and accelerate the EV revolution” with a wide range of models priced from $30,000 to $80,000.
Kia plans to rapidly expand its lineup with a series of smaller, lower-priced models. It launched the EV9, its first three-row electric SUV, which is already proving to be a hot seller in the US. Starting at under $55,000, the EV9 is still a great deal compared to others in its class, but Kia plans to go even lower.
The EV3 and EV4 are expected to be among the most affordable electric vehicles when they arrive in the US.
Kia’s new EV4 is now testing in the US
Ahead of its official debut, Kia’s new EV4 sedan was recently caught driving on US streets for the first time.
The latest image from KindelAuto doesn’t reveal much more than what’s been shown in the past, but the fact that it’s now testing in the US is significant.
Kia’s EV3 is already on sale in Korea, starting at around $30,000 (42.08 million won). Earlier this week, the company said its new compact SUV is now available across Europe, starting at around $38,000 (36,000 euros) with a “segment-leading range” of up to 375 miles (WLTP).
Next up will be the EV4. Kia is expected to officially reveal the new EV by the end of the year, with deliveries starting in 2025. It could be as soon as next week at the 2024 LA Auto Show.
The interior will feature Kia’s advanced new ccNC infotainment system with dual 12.3″ navigation and driver display screens. An otherwise minalimalistic design is expected inside.
Kia’s EV4 will also be available in a hatchback variant. Although the hatch is likely aimed at European buyers, it was also recently spotted testing in the US for the first time.
We will learn official prices closer to launch, but the EV4 is expected to start at around $35,000 to $40,000.
Kia is teasing five new vehicles for the US, at least one being a new EV, that will debut at the LA Auto Show next week. Will it be the EV3? EV4?
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Nissan introduced its newest EV, a sleek all-electric sedan, at the Guangzhou Auto Show this week. The N7 is the first Nissan electric vehicle under its new strategy to spark life back into the brand in China.
Nissan hopes new N7 EV can compete in China
Like most foreign automakers, Nissan is struggling to stay afloat in China as homegrown automakers, like BYD, take control of the market.
Nissan hopes to turn things around after Dongfeng Nissan, its Chinese JV, unveiled the new N7 EV sedan at the Guangzhou Auto Show on Wednesday. The N7 is the first next-gen Nissan EV aimed at China as it looks to regain ground in the world’s largest electric car market.
Nissan claims the new model will “redefine the new benchmark for China’s mainstream family pure electric sedans.” It will be the first model built on Dongfeng Nissan’s new dedicated EV platform.
The company promises the new platform offers “a stress-free driving experience, superior comfort, and a suite of intelligent technology.”
At 4,930 mm long, 1,895 mm wide, 1,487 mm tall, with a wheelbase of 2,915 mm, the N7 is slightly longer than the Tesla Model 3 (4,720 mm long, 1848 mm wide, 1,442 mm tall, 2,875 mm wheelbase).
You can see Nissan’s signature V-Motion design in the headlights and front bumpers. Inside, the N7’s infotainment system is powered by a Qualcomm Snapdragon 8295p processor for a faster, seamlessly connected system.
Nissan also partnered with smart driving tech leader Momenta to offer an advanced driver-assist system called “Navigate on Autopilot.” The N7 will be equipped with high-speed navigation NOA, city memory navigation NOA, and full-scenario intelligent parking.
The new N7 EV is set to go on sale in China in the first half of 2025 as Nissan aims to regain relevancy. Nissan’s sales in China fell 5.4% through the first nine months of 2024 after crashing 33% in 2023.
Will the N7 help Nissan reignite the brand in China, or will it continue losing ground to domestic auto brands like BYD and NIO? Let us know what you think of the electric sedan in the comments below.
Nissan isn’t the only legacy automaker developing specific EVs for China. Hyundai is launching a new AI-powered EV in China next year as it looks to counter China’s surge.
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