Although well-priced relative to direct competitors like the Tesla Model X, the all-electric Jaguar I-Pace does still start at around $70,000. That keeps it out of reach of many buyers who may otherwise be interested in a premium EV and leaves the cheaper Model Y to cater to them.

But there's good news for Jaguar fans as a more affordable version of the I-Pace, the EV320, has been announced. Jaguar Land Rover Netherlands has stated a starting price of €65,990 ($78,086), which in that country, is a full €15,865 ($18,773) less expensive than the cheapest I-Pace using the more powerful EV400 powertrain.

The EV320 gets the same 90 kWh battery as the EV400 which allows it to retain a range of 292 miles on the WLTP cycle. Where the difference lies is in the electric motors, which have been tweaked for reduced outputs of 320 horsepower and 369 lb-ft of torque. That equates to a 0-62 mph time of 6.4 seconds.

By comparison, the only US-spec I-Pace currently makes 394 hp and 512 lb-ft and will hit 60 mph in just 4.5 seconds. If the cheaper EV320 comes to the US and retains the same significant price differential, it could prove very appealing to buyers who are more interested in the I-Pace's stylish lines and emissions-free commuting than outright performance.

As seen recently, the I-Pace range received a number of updates such as a slicker Pivi Pro infotainment system and faster charging. The EV320 will receive these updates too, such as an 11 kW onboard charger that, based on WLTP numbers, can recharge an empty battery in 8.6 hours. However, with a 100 kW DC fast charger, 15 minutes of charging will result in nearly 80 miles of range.

In the Netherlands, an optional Business Pack for the EV320 S and SE trims adds equipment like a second touchscreen, a power tailgate, and 20-inch wheels. Let's hope that US customers benefit from the same high-value proposition of Jaguar's latest EV.