Stellantis plans to release an electric car Panda worth less than 25 thousand euros

Stellantisplans to add a second, cheaper, all-electric vehicle to its lineup to compete with Renault and Chinese automakers as consumers seek more affordable electric vehicles.< /p>

New electric car — no-frills model inspired by Fiat Panda for less than €25 000 — will be presented in July 2024 . He will compete with Dacia Spring from Renault, Fiat brand CEO Olivier Francois said in an interview.

«There is a real need for more affordable electric vehicles,» — François stated.

Stellantis, the parent company of Fiat, also plans to start selling an all-electric city car from its French Citroen brand at a price of below €25 000 at the start of next year. This vehicle, e-C3, will be made in  Slovakia to reduce costs and better compete with Dacia Spring, which is made in China, and the upcoming all-electric Renault 5 made in France.

The plan comes about as automakers struggle to retain mass-market buyers whose purchasing power has decreased due to inflation. And with the entry of Chinese automakers into the European market, pressure on affordable electric vehicles is increasing.

Fiat is also planning to reintroduce the electric 500   in the US, which is the most profitable Stellantis model.

According to François, for the new electric Panda , «it is very likely that there will be synergy with the platform used for the new Citroen e-C3.