Range Rover goes electric as clients say they want $138K SUV 'in a fully electric form,' exec says

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Range Rover goes electric as clients say they want $138K SUV 'in a fully electric form,' exec says Pras Subramanian · Senior Reporter Wed, September 2, 2026 at 11:04 AM EDT 5 min read GM BMW.DE MBGAF RIVN LCID Range Rover finally revealed its first EV, the Range Rover Electric, a car that starts at around $138,000 in the US (£154,070) and arrives as American demand for EVs remains soft. The Range Rover Electric looks just like its gas-powered brethren, and that appears to be on purpose — to reassure the faithful that this is indeed a fully capable Range Rover. Twin 260kW permanent magnet motors make up to 550PS (543hp) and 850Nm of torque — "V8 levels of power," in the company's phrase — yet run nearly silent, with 0-60 mph in as little as 4.3 seconds. "Range Rover clients have been telling us for some time that they want an electric Range Rover, but only if it delivers the same uncompromising experience they expect from the brand," Martin Limpert, Range Rover managing director, told Yahoo Finance. "That means effortless performance, refined comfort, all-terrain capability, and the sense of calm our clients value." Capability-wise, the Electric can ford up to nearly three feet of water and climb 45-degree slopes using single-pedal driving. It features a traction system that reacts within 50 milliseconds, around 100 times faster than a gas-powered Range Rover, the company said. The Electric uses a 118.5kWh double-stacked lithium-ion battery using 800-volt architecture, good for an estimated 372 miles of range (not EPA-certified yet). On charging, Range Rover said a 10%-80% charge takes only 22 minutes, and 137 miles can be added in as little as 10 minutes at peak rate. Notably for the US, a native North American Charging Standard (NACS) port comes standard, meaning Tesla's Supercharger network is available. On the negative side, while the Electric's range is decent, it still lags behind many of its rivals. "Our research shows that many Range Rover clients' driving patterns are already highly compatible with electric vehicle ownership," Limpert countered, adding that most will be charging at home, blunting the effects of range anxiety. In the US, Range Rover's EV will cost more than rivals like the Cadillac ( GM ) Escalade IQ (about $127,000), the Mercedes ( MBGAF ) EQS SUV (about $91,000), and the Lucid ( LCID ) Gravity (from about $80,000). Along with its exterior styling and on- and off-road capability, the cabin interior is where Range Rover makes the case on price, as it is positioned as a luxury offering. Range Rover said the Electric rides on twin-chamber air suspension that is quieter and more refined than any previous Range Rover, and it comes with an interior fridge as well as a fold-out for enjoying drinks alfresco, perhaps at a polo event. (At least that's what Range Rover would like its clients to imagine.) Range Rover is easing in, rather than going full-on with its first EV. The first edition is capped at 2,500 units globally. Orders are open now. Whether Range Rover's pull is enough to move its EV — even in small quantities — in a still-lukewarm premium EV market is the real test. Electric vehicles made up just 5.8% of new cars sold in the US last quarter, and EV sales were down 20.5% year over year, according to Kelley Blue Book . That is actually a recovery of sorts from a brutal run — the year-over-year drop was 36% in the fourth quarter of 2025 and 27.3% in the first quarter of 2026 — as the market slowly finds its feet after the federal $7,500 tax credit was scrapped last year. But the rebound is being led by hybrids and cheaper EVs, not the top end: Mercedes-Benz is offering as much as $25,000 in dealer cash on its 2026 Maybach EQS, and Lucid has trimmed its 2026 production plans amid soft US demand. To be fair, the expired tax credit never really matters for a car like this: With an $80,000 price cap for SUVs, the $7,500 credit would not have applied. The real question is whether luxury buyers want an electric SUV at all, and recent signals from Mercedes discounts to Lucid's production cut are not encouraging. But the luxury market in the US is a place Range Rover parent JLR needs to be: "The United States is a priority growth market for JLR because the opportunity for luxury brands remains incredibly strong," Limpert said. Plus, fellow British luxury marque Rolls-Royce has shown that clients will get excited about electric propulsion in cars where solitude, smooth yet potent power, and removal of all road harshness are key to the driving experience. "We're seeing significant interest from clients who want the Range Rover experience in a fully electric form," Limpert said. What's interesting is that many of the qualities customers value most about Range Rover, including seamless performance, effortless acceleration, refinement, and serenity, are actually enhanced by electrification. That's what Range Rover will be betting on. Pras Subramanian is Lead Auto Reporter for Yahoo Finance. You can follow him on X and on Instagram . Read the latest financial and business news from Yahoo Finance

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