Stellantis plans to launch Jeep electric SUV early next year

March 11, 2022 at 12:50 pm CST

The Stellantis sign is seen outside the Chrysler Technology Center in Auburn Hills, Michigan. (AP photo/Carlos Osorio)

AUBURN HILLS, Mich. (AP) — Automaker Stellantis is planning to have 50% of its U.S. sales and all of its European sales be from electric vehicles by the end of the decade.

The company said March 1 that it anticipates having more than 75 battery electric vehicles and global annual BEV sales of 5 million vehicles by 2030.

Stellantis said the Jeep brand will have its first fully electric SUV launching early next year and a new Ram 1500 BEV pickup truck will arrive in 2024.

The company aims to increase planned battery capacity by 140 gigawatt-hours to approximately 400 gigawatt-hours.

Last month Stellantis said that it made $15.2 billion in its first year after it was formed from the merger of Fiat Chrysler Automobiles and PSA Group.