AUBURN HILLS, Mich. – Stellantis expects to develop gross sales of Jeep automobiles globally by 50% within the subsequent three years, because the automaker makes an attempt to leverage the quintessential American SUV model for elevated income.

The transatlantic automaker on Thursday mentioned it would increase manufacturing and gross sales to roughly 1.5 million items by 2027. To take action, the corporate will develop its car and powertrain choices.

Jeep plans to increase its car nameplates from 10 to 13 by 2027, Jeep CEO Antonio Filosa mentioned Thursday throughout Stellantis’s investor day at its North American headquarters. These automobiles will embrace 27 completely different powertrain choices – conventional inside combustion engine, hybrid, extended-range/plug-in hybrid electrical and all-electric. That is up from 18 presently.   

“We wish to develop,” mentioned Filosa outlining three pillars of its technique: Buyer selection of powertrains, rising market protection and globalization.

A lot of the anticipated development is focused in North America, the place the model goals to high gross sales of 1 million items by 2027, up from roughly 700,000 final yr.

Jeep is predicted to roll out the lately revealed Wagoneer S EV later this yr, adopted by a Jeep Wrangler-inspired off-road car known as the Recon. A brand new mainstream unnamed midsize SUV is deliberate for subsequent yr to exchange the discontinued, gas-powered Cherokee SUV. Jeep can also be planning plug-in variations of its present Wagoneer and Grand Wagoneer giant SUVs.

A roughly $25,000 Jeep Renegade EV is predicted by 2027, in response to the corporate’s investor deck. Stellantis CEO Carlos Tavares introduced such a car final month, saying it could come to the U.S. “very quickly.”

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

By means of the primary quarter of this yr, Jeep’s gross sales totaled 31,750, up 47% from the identical interval a yr earlier. The model bought almost 643,000 automobiles final yr, down 6% from 2022. Jeep represented 42% of Stellantis’ U.S. gross sales in 2023.