Jeep, a renowned automobile brand, is set to introduce its first electric vehicle (EV), the Wagoneer S, in the United States. The announcement was made by Jeep CEO Carlos Tavares during a Bernstein investor conference in New York on May 29, 2024. According to Tavares, the new EV will be priced at $25,000 and will be available 'very soon'. This move comes as automakers focus on producing cheaper cars and EVs to make them more accessible to consumers.
The Wagoneer S is expected to have a range of over 300 miles on a single charge, making it a strong competitor in the luxury electric SUV market. It will initially be available as a Launch Edition model with features such as heated and cooled front and rear seats, a head-up display, and driver-assist systems. The only options for this model are red leather interiors and towing packages.
The Wagoneer S is smaller than the Grand Cherokee but shares some similarities in design. It is intended to compete with luxury electric SUVs such as the Tesla Model Y, Cadillac Lyriq, and Genesis Electrified GV70. The SUV will be available in other markets outside of the United States as well.
Stellantis, Jeep's parent company, has been working on cost efficiency to make EVs more affordable for consumers. The company aims to reach cost parity between its EV and gas-guzzlers within the next three years. However, Tavares has criticized protective measures like tariffs that isolate automakers from the global market.
The Wagoneer S is just one of several new electric vehicles Stellantis plans to release this year. The company aims to have six to eight all-electric vehicles in its lineup by the end of 2024. Another model, the Wrangler-inspired off-road vehicle called the Recon, is also expected to be released soon.
Despite Jeep's focus on producing affordable EVs, some critics argue that a $71,995 price tag for the Launch Edition of the Wagoneer S is still high. However, Tavares believes that consumers are willing to pay a premium for electric vehicles with impressive features and performance.
The automotive industry is undergoing a significant transition towards electrification as governments and consumers push for more sustainable transportation options. The introduction of the Wagoneer S marks an important milestone in Jeep's history, signaling its commitment to staying competitive in the rapidly evolving market.