The Citroën e-C3 model will have a range of 320 kilometers and a “fast charge” capability of 57 minutes.
Automobile manufacturer Stellantis NV (BIT:STLAM) is set to the unveiling Its first European-made affordable electric vehicle, the new Citroen E-C3 By mid October.
According to Thierry Koskus, brand chief executive officer (CEO) of Citroën and chief sales and marketing officer of Stellantis, the electric vehicle (EV) will sell for less than 25,000 euros, which is approximately $27,400. With this price, Stellantis is set to compete with low-cost Chinese brands coming to the European market.
Chinese carmakers usually focus on larger electric vehicles but have recently started introducing smaller and cheaper models in Europe to gain traction.
In today’s French market, the cheapest EVs are the Chinese-made Renault Dacia Spring and the electric Renault Twingo, which cost 21,000 euros ($22,806) and 25,000 euros, respectively. Meanwhile, production of the Twingo will cease by mid-2024. Compared to these two models, the Citroën e-C3 is a large city car selling for a lesser or similar price.
Stellantis has made efforts towards tapping into the EV business, which is largely dominated by Chinese manufacturers. so far, it is entered outstanding results.
Last month, the carmaker announced the addition of nine new battery EVs to its range for 2023. By the end of 2024, Stellantis plans to have a total of 47 battery EVs, while Citroën plans to electrify its entire range by the same time. In 2022, Stellantis cooperated with car-sailing service provider Uber Technologies Inc (NYSE: UBER) to capture the electric vehicle market in France.
Stellantis and EV subsidy uncertainty
Typically, EVs are more expensive than their fossil-fuel counterparts. European car makers always try to come up with cheap models which are encouraged by government subsidies.
A clear example is France which is planning subsidies for EVs produced in Europe, given that they have a lower carbon footprint than imported models. There is also an upcoming social leasing program that will provide these EVs to poor families for around $100.
Information from some sources has indicated a possible release of this subsidy by October for cars that will be delivered next year.
The Citroën e-C3 model will have a range of 320 kilometers and a “fast charge” capability of 57 minutes. It is built on the Stellantis “smart car” architecture that was launched in India and Latin America. The EVs will be assembled in Slovakia as they get ready for the official launch in the second quarter of next year.
The e-C3 battery is likely to be produced in China and raises the question of whether the Citroën vehicle could be covered by subsidies, given that a significant part of it is from China. Consistently, China has successfully led the EV market but Jim Rowan, CEO of Volvo Cars, believes that narrative has come to an end.
Benjamin Godfrey is a blockchain enthusiast and journalist who loves to write about real life applications of blockchain technology and innovations to drive general acceptance and worldwide integration of the emerging technology. His desire to educate people about cryptocurrencies drives his contributions to well-known blockchain-based media and sites. Benjamin Godfrey is a lover of sports and agriculture.
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