Jaguar I-Pace: Electric car that won’t break the bank, CEO says

Jaguar Land Rover unveiled the I-Pace, its first fully electric vehicle, at a bargain price, CEO Ralf Speth says.

“It’s really a tailor-made electric vehicle using the freedom of this kind of new technology of the new electric proportion system to design it,” Jaguar Land Rover CEO Ralf Speth said Tuesday to FOX Business’ Maria Bartiromo on “Mornings with Maria.”

The car was unveiled Tuesday at the Geneva Motor Show and will go on sale later this year in the U.S. for $69,500, before federal or state tax incentives.

It sports a single-speed automatic transmission, has the capacity to travel up to 240 miles on a single charge and can go from 0-60 mph in 4.5 seconds.

“It’s really a sporty car,” said Speth.

Jaguar designed the battery to last 10 years and to be capable of reaching an 80 percent charge in just 40 minutes. It has also been tested in temperatures ranging from -40 degrees F to 104 degrees F.

“The cost of energy is cheaper for this battery electric vehicle than just for a normal internal-propelled car,” he said.

The car is also filled with the latest driving technology, including a navigation system that can suggest nearby charging stations and wireless over-the-air software updates.

Jaguar has also developed a skill that allows users to talk to their cars through any Alexa-enabled device.

Starting in 2020, Jaguar will offer a battery-electric version of all its cars to customers, Speth said.