General Motors has announced an updated price list for the Chevrolet Equinox EV, with the base model starting at $34,995. This price is above GM's earlier promise of a $30,000 base variant, but there are federal tax credits to offset that. Order books will soon open for most models, but the base variant will be available later in 2024. The Equinox EV 1LT is expected to become the most affordable electric car in the U.S. with over 300 miles of range.
The Equinox EV is eligible for the $7,500 federal tax credit, which could allow buyers to get the 1LT for as low as $27,495, and the 2LT for $35,795. The next most affordable model after the Equinox EV to offer more than 300 miles of range is the Tesla Model Y Long-Range, priced at just over $40,000 after applying the tax credit.
GM also confirmed that the Equinox EV AWD has achieved an EPA-estimated range of 285 miles, but AWD prices are yet to be announced. If GM delivers on reliability and the base Equinox can cover over 300 miles, it could become a serious challenger to the Tesla Model Y, Hyundai Ioniq 5, Volkswagen ID.4, and the Volvo EX30, if the company can meet demand and churn EVs at volume.
The Equinox EV has been delayed by several months due to GM CEO Mary Barra's Q3 2023 earnings letter to shareholders. The FWD variants have a 213-horsepower electric motor, while the AWD versions feature a dual-motor set-up producing 288 hp. Production of the Equinox EV is underway at GM's Ramos Arizpe assembly plant in Mexico, with deliveries expected to begin by mid-2024.
MSRP of the Equinox EV variants:
- 1LT FWD starting at $34,995 (available later in 2024)
- 2LT FWD starting at $43,295
- 2RS FWD starting at $44,795
- 3LT FWD starting at $45,295
- 3RS FWD starting at $46,795
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