Stellantis N.V. STLA-owned Jeep brand has announced a comprehensive plan for its next generation of fully electric 4xe vehicles. It will introduce four new all-electric SUVs in North America and Europe by the end of 2025.
Riding on the success of the Jeep Wrangler 4xe, its best-selling plug-in hybrid vehicle in the United States and the recently introduced Grand Cherokee 4xe, the brand is set to develop a comprehensive electrified product range.
In the large SUV segment, the Wagoneer models have powertrains that target an estimated 500 miles of range.
Jeep Recon will be one of the first all-new electric SUVs to be launched in North America.
Code-named Wagoneer S, the all-new fully electric Wagoneer will bolster the brand’s premium SUV segment. It will have all-terrain management, advanced Jeep brand-focused technology impressive performance features.
The new all-electric Jeep Avenger will be launched in Europe early next year after its debut at the Paris Motor Show in October this year.
The announcement follows Stellantis Dodge’s recent unveiling of the Dodge Charger Daytona SRT, a high-performance EV concept. The vehicle has improved performance measures like enhanced aerodynamics and an 800V powertrain with four-wheel drive. The Dodge Charger is expected to be a breakthrough in the world of battery-electric vehicles (BEV).
Earlier in the year, Stellantis’ Ram broke the news that it was working on an all-electric full-size pickup truck for which production is slated to commence in 2024. Ram will share the details of the much-awaited Ram Revolution EV news in November. The brand aims to serve the next generation of Ram customers with a range of products that caters to real-world demands. The RAM electric pickup truck will be designed on a new STLA Frame architecture that will be able to support a mighty 500-mile driving range. The anticipated vehicle promises more range, power, productivity and convenience.
The Chrysler brand has also announced that it will launch its first BEV by 2025 and offer an all-electric Chrysler vehicle lineup by 2028.
This recent announcement is part of its sustainable transformation to emerge as the world's leading electrified SUV brand.
In July 2021, Stellantis announced ambitious plans to invest more than €30 billion between 2021 and 2025 in electrification and software development.
It aims to cover 40% of sales in the United States and 70% of sales in Europe from low-emission vehicles by 2030. It also targets 50% of passenger car and light-duty truck BEV sales mix in the United States and 100% of passenger car BEV sales mix in Europe by the end of this decade.
Stellantis has been focused on expediting its electrification plans in recent months.
It has launched the Dare Forward 2030 plan to aid its transition to a carbon net-zero entity by 2038, with a 50% reduction by 2030. The auto giant aims to double net revenues to $335 billion annually by 2030 and maintain double-digit profit margins as it looks to ramp up efforts to bring electrified versions of its cars. The Dodge muscle car and the Ram pickup had been mentioned in the plan. It also intends to have more than 75 BEVs and reach global annual BEV sales of 5 million vehicles by 2030.
It is remarkable that Stellantis, with an impressive portfolio of 14 renowned brands, is set to rev up the electrification journey with exhilarating product offerings. The recent development by the Jeep brand is in line with STLA’s vision of an electrified future.
Shares of STLA have lost 33.7% over the past year compared with its industry’s 35.1% decline.
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STLA carries a Zacks Rank #3 (Hold), currently.
Better-ranked players in the auto space include BorgWarner BWA, Tesla Inc. TSLA and LCI Industries LCII, each carrying a Zacks Rank #2 (Buy), currently. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
BorgWarner has an expected earnings growth rate of 2.9% for the current year. The Zacks Consensus Estimate for current-year earnings has been revised 0.7% upward in the past 30 days.
BorgWarner’s earnings beat the Zacks Consensus Estimate in all the trailing four quarters. BWA pulled off a trailing four-quarter earnings surprise of 29.45%, on average. The stock has declined 11.4% in the past year.
Tesla has an expected earnings growth rate of 76.5% for the current year. The Zacks Consensus Estimate for current-year earnings has been revised 1% upward in the past 30 days.
Tesla’s earnings beat the Zacks Consensus Estimate in all the trailing four quarters. TSLA pulled off a trailing four-quarter earnings surprise of 32.17%, on average. The stock has increased 15% in the past year.
LCI Industries has an expected earnings growth rate of 68.1% for the current year. The Zacks Consensus Estimate for current-year earnings has remained constant in the past 30 days.
LCI Industries’ earnings beat the Zacks Consensus Estimate in all the trailing four quarters. LCII pulled off a trailing four-quarter earnings surprise of 26.48%, on average. The stock has declined 13.8% over the past year.
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