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Stellantis, which owns the Jeep brand, is joining the competition in the affordable electric car segment in Europe, where it will compete with BYD and other low-cost electric car manufacturers. It has announced plans to launch a “revolutionary” compact and affordable electric car, with a starting price of less than $18,000, according to available information.
Today, the company presented an ambitious new project called E-Car, which stands for European, Emotional, Electric and Environmental friendliness. “Our customers are clamoring for the return of small, stylish cars that are proudly made in Europe, and are also affordable and environmentally friendly,” said Antonio Filosa, CEO of Stellantis.
The new “revolutionary, compact and affordable E-Car” will be produced at the Stellantis plant in Italy, and production is scheduled to start as early as 2028. The company said that the new affordable electric vehicles have the potential for “significant production volumes” thanks to modern technologies created in partnership with other companies to reduce costs.
Stellantis recently expanded its cooperation with China’s Leapmotor to produce several new electric vehicles in Europe. The company also announced its intention to produce two new Peugeot cars and two Jeep electric cars in China, which will go on sale in 2027.
Stellantis did not share the approximate specifications or even the price, but a Reuters source said that the new electric car will cost about $17,500. The company is confident that the creation of a new low-cost electric vehicle will help increase the number of jobs and will also have a positive impact on the spread of electric vehicles in Europe. Stellantis currently produces the Fiat Panda at its facilities in Pomigliano. The E-Car project is expected to help ensure full employment of the plant’s production lines in the future.
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Interestingly, BYD Executive Vice President Stella Li recently announced negotiations with Stellantis to acquire underutilized plants in Europe. “We are negotiating not only with Stellantis, but also with other companies,” she said, adding that rising oil and fuel prices have led to a rapid increase in demand for electric vehicles.
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Although Stellantis plans to release its first E-Car only in 2028, a number of automakers are already actively promoting compact and cheaper electric vehicles in Europe. Volkswagen recently opened pre-orders for models of the ID. Polo lineup. The base version of the ID. Polo will go on sale this summer and will cost from $29,000. Later, the company will release a production version of the ID. EVERY1 concept – an affordable electric vehicle with a starting price of approximately $23,000.
Meanwhile, Chinese automakers, including BYD, are rapidly increasing their market share in the UK and other parts of Europe. BYD has become the most popular electric car brand in the UK, largely due to affordable models like the Dolphin Surf with a starting price of £18675.
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