Jeep and Ram owner Stellantis is investing over $406 million to retool three Michigan plants as part of plans to ramp up EV production. The new funding comes as it preps for the first electric Jeep, Dodge, and Ram EV pickup to hit the US market.
Jeep, Ram to kick off Stellantis’ EV ramp up in the US
Stellantis announced today’s new investments are part of a “multi-energy strategy.” Over $235 million of the funding will accelerate the retooling of its Sterling Heights Assembly Plant (SHAP).
The company confirmed the SHAP facility will be its first in the US to build an all-electric vehicle, Ram’s electric pickup. Stellantis said the Ram 1500 REV electric pickup will launch in late 2024 and be built alongside the 2025 Ram 1500 Ramcharger (range-extended model).
Based on the STLA Frame platform, Ram’s electric pickup offers up to 500 (229 kWh battery) or 350 miles (168 kWh battery) range.
Other investments include about $97.6 million into its Warren Truck Assembly Plant (WTAP) to prepare for Jeep’s first global EV, the Wagoneer S.
Jeep’s Wagoneer S will be one of four EVs launched globally by the end of 2025. The other three include the Wrangler-inspired Recon EV, a new mainstream electric crossover SUV, and a Renegade EV starting under $25,000.
Jeep Recon electric SUV (Source: Stellantis)
Stellantis will also retool its Dundee Engine Plant (DEP) to assemble, weld, and test battery trays for its STLA Frame architecture.
The facility will also produce front and rear beams for the STLA Large platform. Production is slated for 2024 and 2026, respectively.
Jeep EV roadmap (Source: Stellantis)
The new investments are part of Stellantis’s broader Dare Forward 2030 strategy, which calls for 100% of passenger car sales in Europe and 50% of its passenger car and light-duty truck sales in the US to be electric by 2030.
2025 Ram 1500 REV (Source: Ram)
Dodge, another Stellantis brand, is launching its first EV, the 2024 Charger Daytona. The brand claims the Scat Pack model maintains its title as the “World’s quickest and most powerful muscle car.”
2024 Dodge Charger Daytona EV Scat Pack (Source: Stellantis)
Electrek’s Take
Stellantis is about to launch the first Jeep, Dodge, and Ram EVs in North America just as US rivals Ford and GM pull back on major initiatives.
Ford is scrapping plans for its electric three-row SV, opening the door for Jeep, which will launch its first EV in the US later this year. Instead, Ford is doubling down on smaller, more affordable electric cars.
GM pushed back several EV projects, including the opening of its electric truck plant in Michigan and an EV battery factory in Indiana.
Will Jeep and Ram take advantage of the opportunity? Jeep is undergoing a brand revamp and is looking to reverse a five-year sales slump.
According to CEO Antonio Filosa, Jeep’s electric SUV will not launch until it is of “perfect quality” as the company looks to turn things around in its most important market. The Wagoneer S is expected to play a key role.
Lectric Ebikes appears to be preparing for a major new product launch, teasing what looks like the next evolution of its wildly popular folding fat tire electric bike. Based on the clues, it looks like a new Lectric XP 4 could be inbound.
In a social media post released over the weekend, the company shared a minimalist graphic reading “XP4” along with the message “Tune in 5.6.2025 9:30AM PT.” That date – this Tuesday – suggests we’re just hours away from the big reveal of the Lectric XP 4.
If true, this would mark the next generation of the most successful electric bike in the U.S. market. The current model, the Lectric XP 3.0, has become an icon of accessible, budget-friendly electric mobility. Starting at just $999, the XP 3.0 offers a foldable frame, fat tires, a 500W motor, a rear rack, lights, and hydraulic brakes – all packed into a highly shippable design that arrives fully assembled. It’s the kind of package that has helped Lectric claim the title of best-selling e-bike brand in the U.S. for several years in a row.
With the XP 3.0 still going strong, the teaser raises plenty of questions. Will the XP 4.0 be a modest update or a major leap forward? Could we see new features like torque-sensing pedal assist, a location tracking option, or upgraded performance? Or is Lectric preparing a more comfort-oriented variant, maybe even with upgraded suspension or even more accessories included standard?
Advertisement – scroll for more content
The teaser image, which features stylized stripes in grey, blue, and black, may hold some clues. One theory is that the colors represent new trim options or component upgrades. Another possibility is that Lectric is preparing multiple variants of the XP 4.0 – perhaps targeting commuters, adventurers, and off-road riders with purpose-built versions. We took the liberty of a bit of rampant speculation late last year, so perhaps that’s now worth a revisit.
At the same time though, Lectric’s penchant for launching new models at unbelievably affordable prices has never run up against such strong pricing headwinds as those posed by uncertainty in the current US-global trade war fueled by rapidly changing tariffs for imported goods.
Previous versions of the Lectric XP e-bike line have seen sky-high sales
Whatever the case, Lectric’s knack for surprising the industry with high-value, customer-focused e-bikes means expectations will be high. The brand has built a loyal following by delivering reliable performance at a price point that few can match, and any major update to the XP lineup is likely to ripple across the market.
As a young and energetic e-bike company, Lectric is also known for throwing impressive parties around the launch of new models. It looks like I may need to hop on a red-eye to Phoenix so I can see for myself – and so I can bring you all along, of course.
Be sure to tune in Tuesday at 9:30AM PT to see what Lectric has in store – and you can bet we’ll have all the details and first impressions as soon as they drop.
FTC: We use income earning auto affiliate links.More.
Logo of the Organization of the Petroleum Exporting Countries (OPEC)
Andrey Rudakov | Bloomberg | Getty Images
U.S. crude oil futures fell more than 4% on Sunday, after OPEC+ agreed to surge production for a second month.
U.S. crude was down $2.49, or 4.27%, to $55.80 a barrel shortly after trading opened. Global benchmark Brent fell $2.39, or 3.9%, to $58.90 per barrel. Oil prices have fallen more than 20% this year.
The eight producers in the group, led by Saudi Arabia, agreed on Saturday to increase output by another 411,000 barrels per day in June. The decision comes a month after OPEC+ surprised the market by agreeing to surge production in May by the same amount.
The June production hike is nearly triple the 140,000 bpd that Goldman Sachs had originally forecast. OPEC+ is bringing more than 800,000 bpd of additional supply to the market over the course of two months.
Oil prices in April posted the biggest monthly loss since 2021, as U.S. President Donald Trump’s tariffs have raised fears of a recession that will slow demand at the same time that OPEC+ is quickly increasing supply.
Oilfield service firms such as Baker Hughes and SLB are expecting investment in exploration and production to decline this year due to the weak price environment.
“The prospects of an oversupplied oil market, rising tariffs, uncertainty in Mexico and activity weakness in Saudi Arabia are collectively constraining international upstream spending levels,” Baker Hughes CEO Lorenzo Simonelli said on the company’s first-quarter earnings call on April 25.
Oil majors Chevron and Exxon reported first-quarter earnings last week that fell compared to the same period in 2024 due to lower oil prices.
Goldman is forecasting that U.S. crude and Brent prices will average $59 and $63 per barrel, respectively, this year.
In a bid to keep up with the rapid growth of EVs, Chicago Department of Transportation (CDOT is currently seeking public feedback on a plan called “Chicago Moves Electric Framework.” The city’s first such plan, it outlines initiatives that include a curbside charging pilot through the city’s utility, ComEd, and expanded charging access in key areas throughout the city.
Unlike other such plans, however, the new plan aims to focus on bringing electric vehicle charging to EIEC and low income communities, too.
“Through this framework, we are setting clear goals and identifying solutions that reflect the voices of our residents, communities, and regional partners,” said CDOT Commissioner Tom Carney. “By prioritizing equity and public input, we’re creating a roadmap for electric transportation that serves every neighborhood and helps drive down emissions across Chicago.”
Advertisement – scroll for more content
Neighborhoods on the south and west sides of Chicago experience a disproportionate amount of air pollution and diesel emissions, largely due to vehicle emissions according to CDOT. Despite that, most of Chicago’s public charging stations are clustered in higher-income areas while just 7.8% are in environmental justice neighborhoods that face higher environmental burdens.
“Too often, communities facing the greatest economic and transportation barriers also experience the most air pollution,” explains Chicago Mayor Brandon Johnson. “By prioritizing investments in historically underserved areas and making clean transportation options more affordable and accessible, we can improve both mobility and public health.”
The Framework identifies other near-term policy objectives, as well – such as streamlining the EV charger installation process for businesses and residents and implementing “Low-Emission Zones” in areas disproportionately impacted by air pollution by limiting, or even restricting, access to conventional medium- and heavy-duty vehicles during peak hours.
The Chicago Moves Electric Framework includes the installation of Level 2 and DC fast charging stations in public locations such as libraries and Chicago’s Midway Airport, “supporting not only personal EVs but also electric taxis, ride-hail and commercial fleets.”
Chicago has a goal of installing 2,500 public passenger EV charging stations and electrifying the city’s entire municipal vehicle fleet by 2035.
Electrek’s Take
ComEd press conference at Chicago Drives Electric, 2024; by the author.