In order to compete with other automakers and garner a larger slice of the EV market, Stellantis shared that it is developing a second, lower-priced EV inspired by the Panda from its sub-brand Fiat. The new Fiat EV is expected to arrive priced below €25,000.
Today’s news is one of several strategies multinational automotive corporation Stellantis is enacting to not only stay relevant in an industry accelerating toward electrification, but excel in it. Criticized by some as laggards to EVs, Stellantis has been making moves lately to truly compete globally.
In the last few months alone, Stellantis has formed a joint venture with Foxconn to produce EV semiconductors, revealed a new EV platform for global EV brands like Jeep, and green-lit plans for a second EV battery manufacturing facility in the US alongside Samsung SDI.
The automaker was also one of seven in the recently announced alliance to deliver a universal EV charging network to North America. As Stellantis advances its offensive in the US on the wings of marques like Ram and Fiat, it is also targeting a potentially fruitful market in Europe in which consumers are seeking smaller, more affordable EV options.
It may take a year or two, but Stellantis says it will introduce a new, affordably priced Fiat EV to Europe to compete with automakers already promising similar options.
New Fiat EV will compete with Renault, BYD in EU to begin
According to Bloomberg, Stellantis intends to introduce a second economically priced EV to its lineup under the Fiat brand one year from now. According to Fiat CEO Olivier Francois, the new EV will be priced under €25,000 ($27,500) and will take design cues from the Panda seen in the featured image above.
Francois also stated that the incoming Fiat EV will challenge Renault’s Dacia Spring (seen above). Another target could be the growing number of BYD EVs in Europe like the Atto 3. If and when it does arrive, the new Fiat EV will join the e-C3 from fellow Stellantis sub-brand Citroen as the second EV model priced below the €25K benchmark.
The e-C3 is also intended to compete against the electric Dacia Spring in the EU, but should begin sales at least six months before the new Fiat is even unveiled. Given that both Fiat and Citroen exist under the Stellantis umbrella, it’s safe to say that the two affordably priced EVs will share some DNA. Fiat’s CEO said as much in a recent interview, stating, “It’s very likely that there will be synergies.”
No word yet on if the US market will see the new Panda-inspired EV – Fiat’s immediate focus across the pond is the , while Stellantis continues to introduce larger electric models under the Ram and Jeep marques.
Fiat may not be the most prominent brand in the US, but a compact $27,500 EV could certainly garner some looks from American consumers if the range is reasonable. We will have to see what it looks like next summer and how it fares in a competitive market in Europe that gravitates more toward smaller vehicles.
Author: Scooter Doll
Source: Electrek
