Ford (F.US), Stellantis (STLA.US), and others aim to overcome range limitations with extended-range technology, with gasoline generators becoming the new "power banks" for electric vehicles.

Traditional car companies such as Ford (F.US), Stellantis (STLA.US), and Hyundai are planning to launch a new generation of Extended-Range Electric Vehicles (EREV). These vehicles are based on pure electric drive and are additionally equipped with a gasoline generator to recharge the battery when its charge is depleted. According to reports, Stellantis plans to be the first to launch the Jeep Grand Wagoneer EREV version SUV later this year or in early 2027, followed by a second EREV modelthe Ram 1500 REV pickup truck. This pickup will feature a large-capacity electric vehicle battery and will be equipped with a V-6 gasoline engine specifically for charging the battery, with a combined range of up to 690 miles (approximately 1,110 kilometers). Hyundai will launch the EREV version of the next-generation Santa Fe SUV in 2027, with a range of approximately 600 miles; its Genesis brand under Deluxe Corporation will also introduce similar models. Ford ceased production of the pure electric F-150 Lightning pickup at the end of last year but is now planning to "revive" this model in an extended-range form. Most plug-in hybrid electric vehicles (PHEVs) commonly found on the roads today essentially still belong to the category of gasoline vehicles, merely adding a small-capacity battery to provide a limited electric-only range. In contrast, the EREV is designed based on a pure electric architecture, with the gasoline generator serving only as a supplementary charging device for the battery, and there is no mechanical connection between the generator and the wheels. Engineer Nick Phucas has stated that the EREV concept is quite appealing, but he has concerns about its actual performance: If my pure electric range is exhausted and I fill up with gasoline, how much total range does the vehicle really have at that point? From a business perspective, compared to pure electric vehicles, the EREV allows for a moderate reduction in battery capacity (for example, from 150 kWh to around 100 kWh), significantly lowering material costs. Additionally, the technology for gasoline generator sets is mature and the supply chain is stable, unlike high-voltage electric drive systems that face capacity bottlenecks. For traditional automakers, who urgently need to improve profitability, this approach can meet strict carbon emissions regulations (EREVs can still be classified as "zero emissions" under most conditions) while continuing to utilize existing internal combustion engine plants and engineering capabilities, thus avoiding large-scale layoffs and asset depreciation. However, investors still need to be cautious about risks. Analysts have pointed out that EREV is not a definitive solution, and its long-term competitiveness depends on the relative prices of oil and electricity, as well as the speed of improvements in charging infrastructure. If, in the coming years, the U.S. supercharging network achieves "gas station-level" coverage, EREV may become a transitional technology, and the investments made by automakers today could face the risk of becoming sunk costs.