PARIS, June 15 (Reuters) - The world's No.3 carmaker Stellantis will unveil its first European-made affordable electric car in mid-October, the new Citroën e-C3, as it gears up to counter the arrival of lower-cost Chinese brands in the European market. Electric vehicles (EVs) are more expensive than their fossil-fuel counterparts and European carmakers plan cheaper models encouraged by government subsidies. That EV subsidy should be unveiled in October for cars to be delivered in 2024, a government source told Reuters. The need for more affordable European models has been driven by Chinese EV brands, which are seen as a threat to European carmakers as they can offer cheaper models. Built on Stellantis' "smart car" architecture introduced in India and Latin America, the vehicle will be assembled in Slovakia and will launch early in 2024, Koskas said.

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Persons: Thierry Koskas, Koskas, Gilles Guillaume, Nick Carey, Sharon Singleton Organizations: Reuters, EV, Renault Dacia Spring, Renault, Citroen, Thomson Locations: France, Europe, India, Latin America, Slovakia, China