Electric vehicles are about to get a whole lot more affordable in the United States, as both Stellantis NV‘s (NYSE:STLA) iconic Jeep brand and Detroit-based General Motors (NYSE:GM) prepare to shake up the market amid the impending Chinese threat closing in on American shores.

What Happened: Jeep plans to bring a $25,000 electric offering soon, a price point Stellantis CEO Carlos Tavares believes is within reach as the company is already selling cheaper EVs in other parts of the world.

“In the same way we brought the 20,000 Euro Citroen e-C3, you will have a $25,000 Jeep very soon,” he said on Wednesday at a Bernstein investor conference. “We are using the same expertise because we are a global company and this is totally fluid across the engineering world of Stellantis.”

Currently, the Fiat 500e holds the title of Stellantis’ most affordable EV in the U.S., priced around $32,500.

Stellantis Ramps Up Electrification: The company is aiming to launch eight battery electric vehicles in the U.S. by the end of 2024, including the highly anticipated Jeep Recon and Wagoneer S. This push comes on the heels of a strong first quarter for Jeep in the US market, with sales rising 2% year-over-year thanks to the popularity of its plug-in hybrid offerings, the Wrangler 4xe and Grand Cherokee 4xe.

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GM Revives The Bolt: General Motors is also joining the electric price war. The company announced plans to reintroduce its Chevrolet Bolt, a previously discontinued budget EV, in 2025. According to GM’s North American chief Marissa West, the refreshed Bolt will boast “great styling, range, and charging time,” aiming to strike a balance between affordability and evolving charging infrastructure needs.

“We’re really excited to get the Bolt with the Ultium architecture underpinnings to have the most affordable vehicle on the market by 2025,” she said in an interview with Automotive News last week.

The China Factor: The push for affordable EVs in the U.S. is partly driven by the growing presence of Chinese automakers. BYD Co. Ltd. (OTC:BYDDY) (OTC:BYDDF), for example, has made significant inroads in Europe and Mexico with its competitively priced EVs, causing concern for U.S. rivals. While most Chinese rivals haven’t yet entered the U.S. market yet amid stringent tariffs, companies believe their arrival is on the horizon.

Surveys also suggest younger Americans may be open to Chinese-made EVs despite security concerns.

It’s important to note that U.S. automakers aren’t just facing pressure from China. South Korean rivals are already established players here, adding another layer of complexity to the competitive landscape.

Read More: Volkswagen To Introduce Affordable Electric Cars Priced At 20,000 Euros In Europe