Jaguar announced today a new version of its I-Pace electric SUV with less power and a cheaper price.

The British automaker has had some success with the I-Pace, its first all-electric vehicle, but sales have been limited due to the higher price and a lot of competition in the electric luxury SUV segment

Now, Jaguar is introducing a new version of the I-Pace called the “EV320”:

“The new Jaguar I-PACE EV320 stands out for its complete equipment and class-leading technology. The fully electrically powered performance SUV is available with the new Pivi Pro infotainment system, Cabin Air Ionisation with PM2.5 filter and the ClearSight digital rear-view mirror. The EV320 can also be recognized by the new Atlas Gray grille finish. Customers can also count on an improved color palette and new wheel designs.”

The new version is cheaper and a bit less powerful than the original I-Pace EV400.

Jaguar says it “recalibrated” the electric motors inside the electric SUV to have a 235 kW (320 hp) output:

“The drivetrain of the I-PACE EV320 is the same as that of the I-PACE EV400. The battery capacity of 90 kWh is the same, but the electric motors have been recalibrated to reduce the combined power to 235 kW (320 hp). Thanks to the maximum torque of 500 Nm and all-wheel drive, this less powerful version also stands out for its smooth and at the same time lively performance, such as acceleration from 0-100 km / h in 6.4 seconds. The range of the EV320 is the same as that of the EV400 and is set at 470 km (WLTP). The Jaguar I-PACE EV320 thus offers an unprecedented balance between performance, refinement and handling, combined with a generous range and everyday usability for a more favorable price.”

For only a slight decrease in power, the I-Pace EV320 comes with quite an important price decrease.

The previous base version of the I-Pace started at €81,855 ($96,573 USD) in Europe including VAT.

Now, it starts at just €65,990 ($77,855 USD) including VAT.

In the US, Jaguar has yet to release the price of the new version of the I-Pace, but it should be significantly cheaper than the current base price of $69,850 before incentives.

The automaker also said that this new version would be only produced in “limited volume” without confirming how many they plan to build.

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