Stellantis plans to supply a $25,000 all-electric Jeep car within the U.S. “very quickly” to higher appeal to mainstream shoppers amid slower-than-expected electrical car adoption, CEO Carlos Tavares stated Wednesday.

Tavares disclosed few particulars in regards to the upcoming car, saying it is going to be priced round $25,000 within the U.S. to emulate Stellantis’ pricing of the Citroen e-C3 SUV, a low-cost mannequin beginning at 23,300 euros, or about $25,200, in Europe.

“In the identical approach we introduced the 20,000 Euro Citroen e-C3, you should have a $25,000 Jeep very quickly,” he stated Wednesday throughout a Bernstein investor convention. “We’re utilizing the identical experience as a result of we’re a world firm and that is completely fluid throughout the engineering world of Stellantis.”

Stellantis at present affords an all-electric model of its Avenger SUV in Europe, beginning at about 35,000 euros, or about $37,800, in response to its web site. The car isn’t bought within the U.S., the place the automaker has targeted on plug-in hybrid electrical Jeep autos.

Providing a brand new EV for round $25,000 has lengthy been a goal for automakers comparable to Stellantis, Tesla and others. The significance of such a car has grown extra obvious as Chinese language automakers comparable to BYD and Nio develop their gross sales of less-expensive EVs outdoors of China.

“In the event you ask me what’s an inexpensive BEV, I might say 20,000 euros in Europe and $25,000 within the U.S.,” Tavares stated. “So our job is to deliver the protected, clear and inexpensive BEV to the U.S., $25,000. We’ll do it.”

Jeep’s first all-electric car for the U.S. is anticipated to be the massive Wagoneer S SUV, due later this yr. The corporate is scheduled to formally reveal the car Thursday in New York. A Jeep Wrangler-inspired off-road car referred to as the Recon additionally is anticipated as quickly as this yr.

Tavares stated Wednesday that the corporate expects to attain value parity between its all-electric autos and conventional inner combustion engine autos within the subsequent “three years, max” to higher compete with the rising “China invasion” of inexpensive EVs.

“It is a very difficult interval, very chaotic, very Darwinian,” Tavares stated relating to the Chinese language rivals, EV transition and potential consolidation of the automotive trade. “We’re within the storm, and this storm goes to final a number of years.”

Tavares’ feedback come amid growing geopolitical tensions surrounding China-made EVs within the U.S., Europe and different areas. Many in and across the automotive trade concern the less-expensive, China-made autos will flood the markets, undercutting domestic-produced EVs.

Tavares additionally stated tariffs comparable to these the U.S. is implementing in opposition to Chinese language EVs could delay their enlargement to the U.S. however won’t fully cease it.

“Sure, time helps, however you can not cease the competitors,” Tavares stated. “Placing you behind a protectionist bubble isn’t going that will help you to be aggressive. … In case your technique is to shrink and keep within the bubble, it would purchase you time, however definitely it would reduce your future.”

The Biden administration’s 100% tariff introduced earlier this month, up from a present import tax of about 25%, covers EVs imported from China however might nonetheless go away room for the often-cheap Chinese language fashions to undercut home costs and leaves loopholes for imports made by Chinese language automakers in different nations, comparable to neighboring Mexico. It additionally does nothing to deal with present or future gas-powered autos imported from the Communist nation to the U.S.