Jeep is accelerating its push into electric vehicles (EVs) by bringing an all-electric version of its popular Renegade SUV model to market with a starting price below $25,000. The electric Renegade model was confirmed during Stellantis’ 2024 Investor Day.

Despite full details not being publicly disclosed, the Jeep Renegade EV is a major step as one of the most inexpensive fully-electric SUVs from the company when it arrives around 2027. Furthermore, Stellantis CEO Carlos Tavares had previously identified the $25,000 price point as the “sweet spot” for making EVs accessible to the mass market, similar to affordable models like the Citroen e-C3 EV in Europe during a recent Bernstein investor conference.

Moreover, Tavares in the investor day event presentation at its North American headquarters in Michigan presented that the sub-$25,000 Renegade EV will be a major part of Jeep’s plan to cover 85% of the North American market by 2027, up from just 45% currently.

For Stellantis to hit that $25,000 price target, the Renegade EV and other upcoming affordable Jeep EVs will be produced primarily in nations with lower-cost production output. This result allows Stellantis to shift from building one-third of Jeeps in those current markets to over half by 2027 when it targets 1.5 million global Jeep sales annually.

Jeep’s upcoming Renegade EV will be one of three new EV models aimed at North America as the company prepares to rapidly grow its electric lineup to grow its electric lineup to 13 plug-in hybrid electric vehicles (PHEVs) and full battery-electric vehicles (BEVs) by 2027, up from just four as of now. Notably, it will also join the recently revealed Wagoneer S EV, an upcoming rugged off-road Trailhawk Concept EV, and a Recon EV inspired by the Wrangler model.

If Jeep can price its EVs successfully under $25,000 before incentives, the Renegade EV could make Jeep one of the first mainstream automakers to offer an EV to the market. As a result, this could go a long way toward supercharging EV adoption while reinforcing the acceleration to electric mobility.

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