Rated E… for EVeryone. GM’s going all in on affordable electric vehicles with the launch of the Chevy Equinox EV. The Tron-esque SUV will go on sale in the US next fall, with the cheapest model starting at $30K ($10K less than Tesla's cheapest whip). The specs:
EV sticker shock… Tesla and Ford recently hiked their electric-car prices as rising metal and battery costs weigh on profits. With the average EV price tag just shy of $70K, GM is focusing on affordability to boost adoption — and speed past the competition.
Consumers are waiting till the price is right… EV demand is hot: registrations jumped 60% in the first three months of this year, and EVs could account for a quarter of all new-car sales by 2025. But they still make up just 5% of America’s cars. Affordable models from staples like GM, coupled with Biden’s EV tax incentives, could help make “EVs for everyone” a reality.