Jeep will launch an all-new electric version of its Renegade small SUV globally by 2027, with a starting price of less than £20,000.

Jeep will use a lithium-iron-phosphate (LFP) battery to bring the cost of the small SUV down, Stellantis CEO Carlos Tavares told journalists on a call. “It has to use LFP technology” to get to the targeted $25,000 price, he said.

The new Renegade will come “soon”, Jeep CEO Antonio Filosa told investors in the US on Thursday, without giving a timeline.

Previously Jeep has indicated 2026 as potential launch date for the second-generation Renegade.

A budget Renegade EV would undercut the current Jeep Avenger Electric baby SUV, which costs from £34,999 in the UK. The petrol Avenger starts at £23,859.

The switch to LFP instead of the pricier nickel-manganese-cobalt (NMC) chemistry used by the Avenger indicates the new Renegade could be built on the Smart Car platform, which underpins the new Citroën ë-C3, due on sale in July at £21,990.

The new Citroën C3 Aircross, Fiat Grande Panda and Vauxhall Frontera also use the platform, which uses cheaper LFP batteries.

Tavares didn’t respond to a question from Autocar as to whether the Renegade would be built on the Smart Car platform. However, he said that “many other” vehicles would use it.

“That platform has the capability to be sourced all over the world, with simpler solutions that make it much more cost-competitive than anything else we can find in the western world,” Tavares said.

Stellantis has previously indicated the Renegade would be built on the upcoming STLA Small platform, but no details were available about the platform at the investor day.

The Renegade will be one of six new Jeep EVs available globally by 2027, the American company said.

Others include the flagship Wagoneer S, Recon off-roader and an unnamed “mainstream” mid-size SUV. Jeep is also working on a new Compass compact SUV, due before 2027.

It's also planning range-extender (REx) vehicle by the same date, according to the investor day presentation.

No more details were available, but the Jeep REx would be likely to use the same STLA Frame platform as the upcoming Ram 1500 Ramcharger REx pick-up truck.

The new Renegade EV and ICE versions will spearhead Jeep’s new global push that aims to increase sales from 1 million in 2023 to 1.5 million by 2027.

The brand is looking to build more than half its cars in low-cost countries, up from around a third now. 

European production will increase from around 150,000 units per year to 170,000 by 2027.

The decade-old current Renegade is built in Italy, but sales this year have slowed to just 45 in the UK as attention focuses on the Avenger, which is built in Poland alongside the new Alfa Romeo Junior and Fiat 600e, with both EV and ICE options.

The new Renegade won't be built in Italy, Automotive News Europe has reported.