Stellantis to announce its relatively Europe-created inexpensive electric vehicle

June 19, 2023: Stellantis, the third-largest carmaker in the world by earnings, will reveal its first European-made, cheap electric car in mid-October.

The new Citroën e-C3 model will have a 320-kilometer range and a 57-minute “fast charge” capability, Citroën states. The company expects to make pre-bookings open by the end of this year, with deliveries starting in the second quarter of 2024.

Stellantis said in the previous month that it would be adding nine new battery E.V. to its range this year as the European carmaker looks to another drum into the lucrative demand, which Chinese manufacturers currently dominate. The May press release states that the company aims to have 47 battery E.V. on the market by the end of 2024.

Citroën itself seeks to electrify its complete range by the end of 2024.

The company reported sales of Stellantis’ battery electric vehicles were up 22% yearly in the first quarter of 2023.

Shares of Stellantis were up 0.2% when markets extended at 8.00 a.m. London time Friday.

The International Energy Agency in April calculated that electric vehicle deals would exceed 10 million in 2022, with China accounting for around 60% of the market.

Europe is the second-largest market for electric cars, with sales having increased by over 15% in 2022, the energy watchdog stated. It forecasts that E.V. purchases will climb to 25.9 million in 2028.

China is doubtful to dominate the electric vehicle market in the future, Volvo Cars CEO.

“We’re seeing a lot of new, completely electric brands popping up in China, which forces it to be somewhat turbulent and a little bit chaotic within that market as people fight and jockey for position,” Rowan said.

“I think that it will prove more challenging for them to be successful in Europe and America than for them to be victorious in China,” he added.