Jaguar Land Rover has priced its first all-electric vehicle, a sporty looking 2019 I-PACE crossover sport utility vehicle, at $69,500 in the U.S. market, a base cost that puts it $10,000 below the standard Tesla Model X.
Jaguar unveiled the 2019 I-Pace March 2 ahead of the International Geneva Motor Show. At the time, the British brand announced pricing of 63,495 pounds ($87,152) in the UK. (The UK price includes 20% valued added tax, while U.S. prices are listed pre-tax.)
The lower U.S. pricing will certainly help Jaguar remain competitive in the luxury electric vehicle market, which has been dominated by Tesla for several years. However, the Jaguar I-Pace and Tesla Model X aren’t exactly equal competitors.
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The Model X is larger, seating seven people, while the Jaguar I-Pace seats five. The Tesla Model X also has different battery pack sizes, which for a pricey upgrade gets owners up to 295 miles to a single charge. Tesla also has a growing network of fast-chargers called Superchargers that are located on U.S. highways in an effort to promote long-distance travel.
Jaguar Land Rover is intent on catching up. The company has committed to invest $1.5 billion on new facilities and enhanced owner experiences over the next five years in North America. There are 207 total dealerships in the United States, including 166 Jaguar franchises, which have started installing electric vehicle charging equipment to prepare for the I-PACE.
Retailers are also investing in training their sales and service personnel to better understand the electric vehicle market. It’s a critical step that other automakers and their dealership networks have failed to do correctly, depressing sales of hybrid and electric vehicles.
The vehicle will hit U.S. dealerships in the second half of the year as a 2019 model in three trim levels, the S, SE, and HSE versions. A first edition model in the HSE will also be available.