Stellantis NV, the parent company of Fiat, is gearing up to compete with Renault SA and Chinese carmakers in the affordable electric vehicle (EV) market. To achieve this, Stellantis plans to introduce a second lower-priced EV, inspired by the Fiat Panda, priced below €25,000 ($27,347). The new model will be unveiled in July 2024.

The Fiat Panda EV is set to take on rivals like Renault's Dacia Spring and some notable Chinese automakers, redefining the game of EV affordability. But this isn't Stellantis' first entry into the low-cost EV arena. The automaker plans to introduce an EV city car from its French Citroen brand early next year, also priced below €25,000. Dubbed the e-C3, the city car will be manufactured in Slovakia and promises to be competitively priced against the Dacia Spring and France's upcoming all-electric Renault 5.

As for the Panda EV, insiders are predicting "synergies" with the platform used for the upcoming Citroen e-C3. Fiat's CEO has been quoted as saying the brand's ambition is to become the "Tesla for the people", and the affordable Panda EV plays a key role in achieving this.

The Panda EV doesn't only focus on affordability. The new model is expected to surpass the Dacia Spring in terms of range. Word on the street is that the Panda will share its base with the forthcoming Citroen ë-C3, with a battery pack capable of delivering a range of 300 km WLTP, considerably more than the Spring's 230 km.

For those not ready to take the EV plunge yet, the new Fiat Panda will likely be available in combustion engine versions too. 

Source: Bloomberg