*You could purchase an electric vehicle from as low as $30,000 in 2023, if a recent announcement by General Motors is anything to go by. The Chevrolet Equinox EV will see General Motors itch closer to becoming the biggest seller of electric vehicles in the world.
At $30,000, the Chevrolet Equinox EV will cost $13,000 less compared to most EVs currently on the market. The medium-size EV SUV will hold a battery charge of up to 300 miles with GM’s Ultrium platform.
It has been close to a year since Mary Barra, CEO of GM, stole the show at CES (The annual trade show organized by the Consumer Technology Association) when she announced the new Chevrolet Equinox EV and that it would cost much less than other EVs.
In simple terms, you will buy the Chevrolet Equinox EV for $13,000 less than the Ford Mustang Mach-E. However, if matched against Tesla Model Y, you would save a whopping $35,000.
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GM has been expanding its line of electronic vehicles even before Chevrolet Equinox EV came along. The manufacturer already has EVs such as the Silverado EV, Bolt EV, and Blazer EV.
“We have every intention to build and sell the vehicle that will start in that price range,” said Scott Bell, the vice president of global sales at Chevy, reports TelMeBest.
Most EVs on sale today are generally more expensive than their gas equivalent.
It is this gap that GM hopes to bridge by assembling a cheaper EV with a brand that most consumers will recognize, such as the Chevy Equinox.
There have been attempts in the past by other automobile companies to introduce really affordable EVs, but they have failed each time.
Once they factor in the battery costs, supply issues and other logistics, the vehicle’s cost ends up being higher than what they initially promised their customers.
While Chevy has yet to release specific details about the Chevrolet Equinox EV’s battery capacity, it has stated that the standard front-wheel drive will get 210 horsepower and 242 pound-feet of torque.
The AWD version of the Chevy Equinox EV will attain 290 horsepower and 346 pound-feet of torque.
GM is also serious about overtaking Tesla in the creation of EV models in the world. To achieve this, GM also announced it plans to invest over $30 billion by the end of 2025 towards developing and creating over 30 new plug-in EV models. It hopes this will put it ahead of Tesla, which is owned by Elon Musk.
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