Stellantis is planning a major push to increase global sales of Jeep vehicles by 50% over the next three years. This effort is part of a strategy to boost profits using the well-known American SUV brand.

On Thursday, Stellantis announced that it aims to ramp up production and sales to about 1.5 million Jeep units by 2027. To achieve this, the company will expand its range of vehicles and engines.

Carlos Tavares, the CEO of Stellantis, emphasized the potential of Jeep to become a popular brand in various markets around the world. He stated this during the company’s investor day at their North American headquarters, highlighting plans to strengthen Jeep’s manufacturing presence.

Antonio Filosa, the CEO of Jeep, shared that the brand intends to increase its vehicle lineup from 10 to 13 models by 2027. This expansion will include 27 different engine options, covering traditional gasoline engines, hybrids, plug-in hybrids, and all-electric powertrains, up from the current 18 options.

Filosa outlined Jeep’s growth strategy based on three main pillars: offering a variety of powertrains to customers, expanding market coverage, and globalizing the brand.

A significant portion of the growth is expected to come from North America, where Jeep aims to sell over 1 million units by 2027, compared to around 700,000 last year.

Jeep is set to launch the new Wagoneer S EV later this year, followed by the Recon, an off-road vehicle inspired by the Jeep Wrangler. Additionally, a new midsize SUV will be introduced next year to replace the discontinued Cherokee SUV. Jeep is also planning to release plug-in hybrid versions of the Wagoneer and Grand Wagoneer SUVs.

By 2027, Jeep aims to offer an affordable electric vehicle (EV) for around $25,000. This goal aligns with the ambitions of other automakers, like Tesla, and is crucial as Chinese companies such as BYD and Nio begin to sell cheaper EVs outside of China.

In the first quarter of this year, Jeep’s sales reached 31,750 units, a 47% increase from the same period last year. However, last year’s total sales were nearly 643,000 units, a 6% decline from 2022. Despite this, Jeep still accounted for 42% of Stellantis’ U.S. sales in 2023.