Jeep is finally embracing the electrification race by adding SUVs in two years.
Jeep plans to launch a defensive tactic in the electric vehicle market by focusing on selling SUVs.
The iconic brand will be adding SUV models in 2025 although the market is already very competitive.
The All-American brand said on Sept. 8 that it will start selling four new all-electric SUVs in North America by 2025.
The SUVs include a luxury Grand Wagoneer called the Wagoneer S and a Wrangler-inspired off-road vehicle called the Recon.
These new EVs will be added to its current models and will not replace its current models such as its flagship Wrangler off-road SUV.
“Our goal is very clear: Become the global leader in SUV electrification,” Jeep CEO Christian Meunier said during a media briefing.
The Recon, which has been deemed a “brother” to the Wrangler and the electric Grand Wagoneer, called the “S,” are estimated to start production in 2024, Jeep said. The other models were not revealed.
Jeep, whose parent company is Stellantis (STLA) – Get Stellantis N.V. Report, is selling SUVs in a very competitive market as more consumers have shifted to buying EVs as battery ranges have increased and the number of public charging stations has expanded.
The company’s off-road vehicles will appeal to drivers who want the outdoor experience they have been familiar with for several decades.
Jeep will also launch four new EVs in Europe by 2025. The lineup includes a small SUV called the Avenger that Jeep will not sell in the U.S. Meunier did not specify how many new EVs are expected to be sold on both continents.
By 2025, Jeep’s ambitious plan is to for all its vehicles to have “electrification” which includes hybrids, plug-in hybrid electrics or all-electric modes.
The Avenger, which is smaller than the brand’s entry-level Jeep Renegade, will arrive in European showrooms in early 2023, according to the company.
In 2021, Jeep unveiled a concept called Magneto, which is based on the convertible three-door Wrangler and is is 100% electric. The company followed up with the 2.0 iteration of Magneto this year.
While the look remains the same with a six-speed manual gearbox and an electric and blue/white theme, the performance has been increased so that drivers will “buckle up and grab with both hands,” as Jeep puts it.
In March, Jeep unveiled how it will sell its first full-battery electric vehicle in early 2023. The automaker will also market an all-terrain SUV from the beginning of 2024.
Jeep is behind the curve and currently lacks any fully electric vehicles, but does offer a stopgap solution. The car maker sells the Plug-in-Hybrid Jeep Wrangler 4xe and plans the Jeep Grand Cherokee 4xe soon.
The company said half of its sales in the U.S. and all of its European sales will be from EVs by 2030.
Jeep’s Long List of Competitors
Jeep has allowed its competitors to take the lead in selling EVs.
Ford (F) – Get Ford Motor Company Report already has an electric SUV, Mach-E, by reinventing its legendary Mustang.
One of the original Big Three automakers, General Motors (GM) – Get General Motors Company Report , launched its highly anticipated Lyriq electric SUV, the first EV from its high-end Cadillac brand that starts selling at $62,990.
The company unveiled its a new SUV on Sept. 8, the Chevrolet Equinox EV, that is cheaper than its competitors and will sell from a starting price of $30,000.
GMC, GM’s other brand, sells the massive electric Hummer SUV while Tesla (TSLA) – Get Tesla Inc. Report already offers the Model Y SUV.
The average price for EVs start at $47,500, according to Edmunds.com.
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This story was originally published September 8, 2022 6:43 PM.
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