The Chevy Equinox EV, an all-electric compact SUV that General Motors has aimed squarely at the mass market, will arrive in dealerships in 2024 with a battery range and sticker price that could propel its EV sales and even compete with Tesla.
The kicker? The Chevy Equinox EV base model will be priced at $34,995 — higher than the targeted $30,000 — and will come with a 319-mile range that beat out the company's original estimates. The base price model includes the destination fee. Importantly, that price doesn't take into account the $7,500 federal tax credit, which means for buyers who qualify it could be as low as under $28,000.
For comparison, the rear-wheel Tesla Model Y has a range of 260 miles and starts at $40,390. If the buyer qualifies for the $7,500 federal tax incentive, that price drops to $32,890.
Scott Bell, vice president of Global Chevrolet, noted that the $34,995 price is still "in the ballpark" that the company targeted.
"We were also anticipating that it was going to be about 250 miles (range)," Bell said, adding that the EV is delivering more value from a range standpoint. "I think that we're pretty proud of where the price landed there and we also expect that it'll be the most affordable EV with 300-plus miles of range."
Image Credits: Chevy/GM
The GM brand will begin Equinox EV production with two higher priced trims, a front-wheel-drive RS model that starts at $48,995 and an all-wheel-drive variant at $52,395, according to the company. Chevy executives wouldn't share the exact date for those first Equinox EVs, only stating it will be sometime in early 2024.
The company said the front-wheel-drive RS model was recently certified at 319 miles of range and includes 21-inch wheels; a 17.7-inch-diagonal color touchscreen; wireless charging; an advanced driver assistance system, including its hands-off Super Cruise feature; and wireless charging. It also has Google built in, which gives users access to a suite of Google apps directly from the infotainment system.
The timing of Chevy Equinox EV's arrival is also important. The company will likely want to introduce the Equinox EV as the last Chevy Bolt and Bolt EUVs are sold, which is expected by spring. GM said it will end production of the Chevy Bolt and Bolt EUV at the end of year and will bring back a next-generation version in 2025.