Jeep teases the Compass EV: Here’s our first look at the upcoming electric SUV
It’s official: Jeep’s most globally available model is going electric. The Jeep Compass EV we’ve been waiting for is due out soon. Jeep teased the upcoming electric Compass for the first time in its latest design sketch. Check out the image below.
The Compass is Jeep’s third best-selling vehicle in the US this year, behind the Grand Cherokee and Wrangler. It’s also a top-selling model in its segment in Europe. Now we know the next-gen Jeep Compass is going electric.
We first caught wind that a Compass EV was in the works after Jeep’s UK managing director, Kris Cholmondeley, told Auto Express in August that the electric SUV would kick off a brand revamp in Europe.
Jeep revealed Monday that the next-gen Compass will be available in fully electric, hybrid, and gas-powered options as part of its “Freedom of Choice” strategy.
The electric SUV will be built on the STLA Medium platform, the same one underpinning the Peugeot E-3008.
With “best-in-class-range,” Stellantis claims the platform offers over 435 miles (700 km) WLTP range. However, that’s for the Performance pack. The Standard pack is rated with over 310 miles (500 km) WLTP range.
Peugeot’s electric E-3008 fastback gets up to 326 miles with the standard 73 kWh battery, while the larger 98 kWh battery model offers up to 422 miles WLTP range.
Jeep teases first images of the electric Compass
Jeep gave us our first look at the electric Compass SUV in its latest design sketch on Monday.
Like Jeep’s first global electric SUV, the Wagoneer S, the Compass EV will likely maintain much of its traditional design but with added elements as the brand looks for a revival.
Jeep’s Wagoneer S features new signature design elements like an illuminated grille and more aerodynamic design that will likely appear in the upcoming Compass EV.
The next-gen Compass will be made in Melfi, Italy, starting next year, and production will expand to North America and “around the world” in 2026.
According to Cholmondeley, Jeep will officially unveil the electric Compass next month. The Compass will be slotted above the brand’s first EV in Europe, the Avenger.
Following the Wagoneer S, Jeep will launch the Wrangler-inspired Recon EV. The rugged electric SUV was spotted in transit last month, suggesting its official launch is around the corner. Jeep also confirmed plans to launch an electric Renegade, starting under $25,000.
The Compass, along with the Wagoneer S and Renegade, is expected to help revamp the brand as the rugged SUV maker expands into new segments.
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ACME stock soars on today’s cartoonishly silly episode of Quick Charge, we watch Tesla Autopilot crash into a wall with a painting on it, make the Elon stans look silly when they point out shady behavior from their fearless leader, and toss out the notion that some franchise dealers might help the troubled EV brand make more sales in red states.
We also cover Toyota as it moves to position itself for global battery dominance by suppling batteries to more than 400,000 electrified Honda vehicles per year, plus an upgraded Xpeng G6 electric SUV that makes everything on this side of the Pacific look positively plebeian. All this and more, enjoy!
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Tesla has already started offering 0% APR on loans for the new Model Y in China, showing a clear sign of weak demand.
We recently reported that Tesla is under increased pressure from competition in China, the world’s largest EV market.
The Tesla Model 3 was recently surpassed in sales by the Xiaomi SU7 in a record short period from starting production. The SU7 not only outsells Model 3 in China, but Xiaomi’s electric sedan has a 31-34-week-long order backlog compared to just 1-3 weeks for Tesla’s.
Last month, Tesla started offering a new RMB 8,000 ($1,100 USD) insurance subsidy and 0% loans on new Model 3 orders.
Tesla didn’t apply these same offers to new Model Y orders because Tesla enjoyed more demand for the vehicle due to the launch of the Model Y refresh, and the production launch limited the supplies.
However, we also noted that reports of more than 200,000 orders for the new Model Y were exaggerated and the current delivery timelines pointed to soft demand for the new Model Y.
We noted that a good indication of when Tesla is running out of the backlog of orders, which was opened in January, for the newly delivered vehicle would be if Tesla brings back financing incentives on the Model Y.
Today, Tesla announced that it was bringing back the 0% interest loans on the base version of the new Model Y:
The Model Y RWD is by far Tesla’s best-selling car in China and Tesla is now offering up to 3 years at 0% for a 30% down payment and some discounted rates for a smaller down payment.
The incentive starts now and up to April 30. Tesla wrote:
If you purchase a Model Y rear-wheel drive version from March 18, 2025 to April 30, 2025 and pick up the car before the order expiration date according to the delivery and payment terms in the order, eligible customers can apply for the following financial preferential plans:
Tesla currently quotes “2-4 weeks” as a delivery timeline for new orders for the new Model Y RWD, and 6-10 weeks for Long Range AWD.
The Long Range appears to enjoy a bit more demand. Tesla even slightly increased the price by RMB 10,000 yuan ($1,380).
Electrek’s Take
It’s important to consider that Tesla is believed to be selling a mix of RWD vs AWD around 3 to 1 or even 4 to 1. Therefore, any change in pricing and subsidized loans to the Short Range RWD would have a massive impact on Tesla.
I have to say, I’m surprised. I suspected Tesla would have some issues selling the new Model Y in the second half of the year after some excitement for the new version wore off and competition like the Xiaomi YU7 would arrive, but I didn’t think it would come so fast.
Even if this is because Tesla was able to ramp up production of the new version faster, which could mean more deliveries in Q1, the fact that they are already discounting them is a terrible sign of demand.
I didn’t have high hopes for Tesla’s prospects in China in 2025, but even I thought this would not come for another 3-5 months.
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The World Liberty Financial website arranged on a smartphone in New York, US, on Wednesday, Feb. 12, 2025.
Gabby Jones | Bloomberg | Getty Images
President Donald Trump’s World Liberty Financial crypto project said on Monday that it raised $250 million in its second token sale, bringing the total amount of coins sold to $550 million.
WLFI, a venture backed by the first family that describes itself as a sort of crypto banking platform, launched in October, weeks before Trump’s election victory. In a document published at the time of launch, WLFI said the Trump family could take home 75% of net revenue.
In Monday’s release, WLFI said more than 85,000 participants underwent so-called know-your-customer verification to gain access to the token sale. Co-founder Zach Witkoff, son of billionaire U.S. envoy Steve Witkoff, is quoted in the release as saying that “WLFI is on track to supercharge DeFi,” or decentralized finance.
In January, Tron blockchain founder Justin Sun upped his stake in WLFI tokens to $75 million. A court filing the following month showed that Sun and the SEC were exploring a resolution to the regulator’s civil fraud case against the crypto entrepreneur.
WLFI is one of several crypto projects in the Trump family that are kicking off just as the president is pushing a crypto-friendly agenda. Earlier this month, President Trump signed an executive order to establish a Strategic Bitcoin Reserve.
According to a memo from the White House last week, David Sacks, the Trump administration’s AI and crypto czar, sold over $200 million worth of digital asset-related investments personally and through his firm, Craft Ventures, before starting the job. Sacks said in a podcast that he “didn’t want to even have the appearance of a conflict.”
At the end of February, the SEC declared that meme tokens are not securities. The announcement came after the president and First Lady Melania Trump launched their own meme coins in the days leading up to the inauguration.
WATCH: Trump’s bitcoin reserve leaves crypto investors disappointed
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