This title is rewritten as: Jeep’s inaugural all-electric global SUV priced at $72,000

NEW YORK – Jeep’s first all-electric SUV for the U.S. market is set to be the 2024 Wagoneer S, with a starting price of around $72,000. It’s scheduled to hit the market this fall.

The vehicle and its pricing were unveiled on Thursday by the Stellantis-owned brand, which described it as a “new chapter” for the iconic American SUV brand that has seen domestic sales decline in recent years.

“This signifies a great deal. It’s the first globally built [all-electric vehicle] in North America, designed in the U.S. … for international markets,” Jeep CEO Antonio Filosa informed CNBC in a post-reveal interview. “It’s a historic milestone for us.”

Filosa, who took the helm at Jeep in December, said the brand is in “excellent condition” but is undergoing a “transition like all car brands currently” with regards to electrification.

Despite the slower-than-anticipated uptake of EVs in the U.S., Filosa believes the brand has no cause for concern about consumer acceptance because the electric vehicle is a new addition to Jeep’s lineup. This lineup will continue to offer traditional gas-powered SUVs, plug-in hybrid electric vehicles, and “extended-range” electric vehicles starting next year.

The Wagoneer S “Launch Edition” will initially be equipped with a 400-volt, 100-kilowatt-hour battery pack capable of powering the vehicle for over 300 miles on a single charge, with 600 horsepower and 617 pound-feet of torque. It can go from 0-60 mph in 3.4 seconds and can charge from 20%-80% in just 23 minutes using a DC Fast charger, according to the company.

Jeep also showcased a Trailhawk off-road performance concept of the EV, which Filosa hinted “will hopefully soon become a product.”

Filosa mentioned that less expensive models of the Wagoneer S will start being launched approximately six months after the Launch Edition.

The starting price of the Wagoneer S EV, at $71,995, falls between the gas-powered versions of the Wagoneer, which start at around $63,000, and the more luxurious Grand Wagoneer, which starts at roughly $92,000.

Jeep also plans to introduce a new, yet-to-be-named midsize SUV next year to replace its discontinued Cherokee model, according to Filosa.

Additionally, Filosa mentioned that the company will launch electric, extended-range versions of the traditional gas-powered Wagoneer and Grand Wagoneer in 2025. This technology, which employs an engine as a gas-powered generator in addition to EV batteries, is anticipated to debut on the upcoming Ram Ramcharger pickup truck.

The Wagoneer S marks the start of what Stellantis CEO Carlos Tavares referred to earlier this week as the carmaker’s EV offensive for the U.S., which includes six to eight all-electric vehicles this year.

“There are a plethora of opportunities here in the U.S. We are merely commencing our electrification offensive,” Tavares stated Wednesday during a Bernstein investor conference.

For Jeep, the Wagoneer S is projected to be followed later this year by a Wrangler-inspired off-road vehicle named the Recon and a new roughly $25,000 EV “very soon,” Tavares mentioned Wednesday without providing further details.

For years, Tavares has been vocal about the company being obliged to manufacture EVs, which are 40% more expensive, due to regulatory mandates rather than consumer demand. On Wednesday, he characterized EVs as a “cost-cutting exercise” to ensure the vehicles are profitable.

The EVs represent a shift for Jeep in the U.S., where the brand has been concentrating on plug-in hybrid electric vehicles, or PHEVs, such as its Wrangler and Grand Cherokee SUVs. These plug-in vehicles accounted for 17.5% of Jeep’s sales this year.

Filosa stated that Jeep, currently the No. 1 brand in terms of PHEVs in the U.S., expects to continue to increase sales of these vehicles in addition to the forthcoming EVs.

“So far, electrification has been working extremely well for us. Essentially,” he said during the launch event, “we built the PHEV industry. We own this market segment.

Stellantis’ total PHEV U.S. sales last year reached nearly 143,000, an increase of 124% compared to 2022. Jeep led the way, with 67,429 Jeep Wrangler and 45,684 Jeep Grand Cherokee “4xe” SUVs sold.

Jeep is using 4xe badging as a nod to the brand’s off-road reputation combined with electrification, encompassing both EVs and PHEVs.

The Wagoneer S is Jeep’s first “global” EV, according to the company. The Jeep brand’s first EV model, called the Avenger, a small SUV priced at around 35,000 euros, or about $37,800, was launched last year in Europe.

The Wagoneer S, which will be manufactured at a factory in Mexico, is based on Stellantis’ large EV platform, which is anticipated to support eight vehicles for the company from 2024-2026.

Although the “Wagoneer” name is shared with Jeep’s current gas-powered model, the five-passenger, two-row EV shares little with its three-row conventional internal combustion engine counterpart other than some Jeep styling.

The most noticeable difference on the exterior is a more modern interpretation of the brand’s iconic seven-slotted grille, which the EV doesn’t actually need for cooling. It’s indented and the slots are solid and interconnected with one another compared to seven separate slots.

“We reinvented the traditional seven-slot grille,” said Ralph Gilles, Stellantis head of design. “I am incredibly proud of this.”

The Wagoneer S also features a large “R-Wing,” an open spoiler on the back of the SUV. Gilles stated that the aim was to avoid making a “jellybean” like many aerodynamically efficient EVs currently being sold in the U.S.

Compared to the gasoline model, the Wagoneer S is far less boxy, which helps it become the most aerodynamic Jeep ever produced by the brand, according to the company.

Gilles explained that the Wagoneer name represents the vehicle’s luxury rather than a specific design.

The vehicle’s interior features over 45 inches of screens, including a 12.3-inch central display, and a combination of metal, faux leather and other sustainable materials.

According to Gilles, a highly respected car designer with the company, wood was prohibited from the interior of the vehicle. It also doesn’t feature any chrome on the outside of the SUV. These decisions were made following feedback from younger designers to make the vehicle more sustainable and appealing to a younger demographic.

“If this is going to be a green vehicle, we had to reconsider the materials inside,” Gilles said. “There was a significant push for sustainable materials everywhere.”