Stellantis Plans $18,000 EV to Launch in Europe by 2028

Getting excited about electric vehicles but worried about the price tag? Stellantis just announced a game-changing move that could make EVs affordable for everyday families.

The automotive giant behind Jeep, Fiat, and Peugeot revealed plans for a groundbreaking electric vehicle that will start at just $17,500. That's less than many new gas-powered cars on the market today.

CEO Antonio Filosa said customers have been asking for small, stylish vehicles that don't break the bank. The company is answering with its E-Car project, which stands for European, Emotional, Electric, and Environmental friendliness.

Production will begin in 2028 at Stellantis's plant in Pomigliano, Italy. The move could bring the facility to full employment, creating manufacturing jobs while supporting Europe's shift to electric transportation.

Stellantis isn't going it alone. The company expanded its partnership with Chinese EV maker Leapmotor last month to develop affordable electric technology. These collaborations are helping bring down costs without sacrificing quality.

The Ripple Effect

This announcement comes as electric vehicle prices have kept many buyers on the sidelines. With gas and oil prices rising, affordable EVs could help millions of families save money on transportation while reducing emissions.

The timing matters too. Chinese automaker BYD has been rapidly gaining market share in Europe with low-cost models, while Volkswagen is launching entry-level EVs starting around $23,000. Competition in the affordable EV space means more choices and better prices for consumers.

Stellantis currently builds the Fiat Panda at the Italian plant where the new E-Car will be produced. The company says the project has potential for significant production volumes, suggesting strong confidence in demand.

European buyers already have some budget options, like the Dacia Spring starting at $18,500. But more competition at this price point should drive innovation and push costs even lower.

The one catch? These vehicles are planned for Europe first, with no immediate plans for U.S. sales. American buyers hoping for ultra-affordable EVs will need to wait and see if success in Europe brings the E-Car stateside.

By 2028, this small electric vehicle could help make clean transportation a reality for families who thought EVs were out of reach.