Electric-vehicle prices are falling fast in the US, but the cheapest models remain far more costly than what other countries have on offer. The BYD Seagull sells for about $10,000 in China, the Dacia Spring starts at $20,000 in Europe, the Renault Kwid e-Tech costs $19,000 in Brazil, and the Kia Ray goes for $22,000 in South Korea.In short, it’s coming soon.
Price and specs haven’t been announced, but it’s a likely contender for best range for the price in the new class of $25,000 EVs.Stellantis, which has been slow to offer electric models in the US, will launch a $25,000 electric Jeep “very soon” as part of a large-scale EV offensive, Chief Executive Officer Carlos Tavares said at a Bernstein conference on May 29.
Having decided that big electric SUVs and trucks are too pricy for mainstream customers, now Ford is thinking smaller. Two years ago, the company quietly started development on a more affordable line of EVs. The work is being done by a satellite team of engineers in Irvine, California, run by Alan Clarke, who previously led engineering for Tesla’s Model Y SUV.
On an earnings call in April, Musk said Tesla has accelerated, rather than delayed, its future-products roadmap and that “more affordable models” are coming in late 2024 or early 2025. Those models will be produced on Tesla’s existing production lines, rather than using the experimental production method, which Musk calls “unboxed,” that was originally planned.