Published - October 18, 2022 @ 12:25 PM (EET)

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At the Paris Motor Show Monday, Stellantis (NYSE:STLA) debuted its first "pure-electric Jeep" as the automaker pushes to launch an additional 28 all-new electric vehicles through 2024.

According to Stellantis, home to brands including Fiat, Chrysler, and Citroen, the Jeep Avenger's "targeted electric range" is 400 kilometers or a little under 249 miles.

Though the group has yet to set a price despite accepting pre-orders for its '1st Edition,' the spec largely follows other Stellantis models, developed "specifically for the needs of European customers."

WHY IT MATTERS

Earlier this year, the European Parliament agreed upon a strategy to reach "zero-emission road mobility by 2035" to effectively eliminate the production of new passenger and light commercial vehicles utilizing fossil-fuel-powered engines.

While the Netherlands-based firm set aggressive targets for all passenger sales in Europe to be battery-electric by 2030, CEO Carlos Tavares is not as optimistic about the ambitious revision of CO2 standards.

Tavares argued that rising costs of electric vehicles would shut many less wealthy consumers out of the auto market. Meanwhile, Stellantis wants a "50% passenger car and light-duty truck BEV sales mix" within the same timeframe in the US.

"The dogmatic decision that was taken to ban the sale of thermal vehicles in 2035 has social consequences that are not manageable," Tavares said.

Carmakers and suppliers have also raised concerns that going electric would cost tens of thousands of workers who make components for or assemble internal combustion engines to lose their jobs.

NOW WHAT

Despite Taveres' skepticism, the CEO will address the company's progress on its commitments during a keynote speech on October 18 at the Paris Automotive Summit.

Elsewhere, Stellantis is considering stopping manufacturing cars in China as geopolitical tensions escalate and western manufacturers lose market share to domestic players. 

Stellantis said the automaker might implement an "asset light" strategy for its Peugeot and Citroen brands in China.

"If we push ahead with this strategy - which is our strategy right now - then we don't need plants in China," Tavares said.