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Chevy's $30K electric SUV could be one of the cheapest yet, as GM strives to make the “EV for everyone”

Friday, September 9, 2022 by Robinhood Snacks |

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:

  • Road range: The Equinox will be powered by GM's in-house Ultium EV battery system. GM says it’ll reach up to 300 miles per charge.
  • The lineup: Chevy already has one of the largest e-fleets with the Silverado EV, Bolt E, and Blazer EV.

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.

  • GM slashed the price of its Chevy Bolt EV by as much as $6K in June after a massive recall and production pause led to just 26 EVs being sold in Q4 last year.
  • Ford’s EV sales tripled last month, and Volkswagen’s EVs are “basically sold out” for the year in the US and Europe.
THE TAKEAWAY

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.