In a recent interview, Olivier Francois, the Chief Executive Officer of Fiat, expressed the company’s determination to meet the demand for more affordable electric vehicles (EVs). He revealed that Stellantis plans to launch a second lower-priced EV, which will take inspiration from the Fiat Panda and come with a price tag of less than €25,000 (US$27,347). The much-anticipated unveiling of this model is scheduled for July 2024, and it aims to directly compete with Renault’s Dacia Spring, appealing to price-conscious consumers seeking cost-effective EV options.
“There’s a real need for more affordable EVs,” Francois stated, underlining the company’s commitment to address the market demand for accessible electric mobility solutions.
See also: Fiat Introduces the 2023 Topolino EV: Two Distinct Variants Starting at $10,770
The automotive industry is facing stiff competition to retain mass-market buyers, especially with the impact of inflation on consumers’ spending power. Moreover, the entry of Chinese carmakers into the European market has intensified the pressure on established manufacturers to offer competitively priced EVs. To tackle this challenge head-on, Stellantis is strategically planning to introduce an EV city car from its French brand Citroen, priced below €25,000, early next year.
Francois highlighted the significance of this move, stating that the Citroen e-C3, being produced in Slovakia, will help control manufacturing costs and provide a compelling alternative to rivals like the Dacia Spring (assembled in China) and the upcoming all-electric Renault 5 (manufactured in France).
As part of the company’s strategy to streamline production and offer economical EV options, Francois added, “it’s very likely that there will be synergies” between the platform used for the new Citroen e-C3 and the upcoming electric Panda. This approach is aimed at maximizing efficiency and potentially reducing costs, making the EV more accessible to a wider range of consumers.
See also: Stellantis Reveals FIAT 600e, a New Electric SUV Set to Rival the Volvo EX30, Starting Under $40,000
In addition to its focus on the European market, Stellantis aims to seize opportunities in its largest profit pool, the United States. The company plans to reintroduce its immensely popular electric 500 model, reinforcing its commitment to expanding its presence in the EV market.
With the rapidly growing demand for affordable and environmentally friendly transportation options, Stellantis is making significant strides to cater to consumers’ needs. By unveiling the lower-priced EV inspired by the Fiat Panda and with the upcoming Citroen e-C3, the company is positioning itself to take on Renault SA and Chinese carmakers in the fiercely competitive affordable EV market.
