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GM Confirms Equinox EV Starts At $34,995. 319 Miles Range.

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GM Confirms Equinox EV Starts At $34,995. 319 Miles Range.

(CTN News) – In the last few days, GM’s (GM) Chevrolet has provided more information on the pricing of its upcoming Equinox EV – and it will certainly target the lower end of the market, for which there has been limited competition.

Chevrolet has confirmed that dealer ordering will begin soon, and the entry-level Equinox EV in 1LT FWD (front wheel drive) trim will start at $34,995, with availability in the fall.

GM had previously indicated that the entry-level Equinox EV would cost approximately $35,000. An additional $1,395 is charged for destination fees.

The EPA estimates the Equinox EV will have a range of 319 miles (FWD), which is a significant amount compared with the Nissan Leaf (212 miles) and Chevy’s other EV, the now discontinued Bolt (259 miles).

For the Equinox EV, the full trim levels and pricing are as follows, excluding destination charges:

  • From $34,995 for the 1LT FWD (available later in 2024)

  • A 2LT FWD is available for $43,295

  • A 2RS FWD is available for $44,795

  • A 3LT FWD is available for $45,295

  • A 3RS FWD is available for $46,795

Full-featured 3RS models are priced at a reasonable $46,800. Although the base model starts below $35k, it is very compelling in a market where there are very few entry-level electric vehicles available.

Additionally, GM has confirmed that the Equinox EV qualifies for the federal EV tax credit of $7,500, so it may be possible to purchase it for as little as $27,495, not including destination.

What is the likely profitability of the Equinox for GM? According to GM, it intends to achieve low-single-digit profitability (EBIT EV margin) by 2025 and is leveraging its Ultium battery platform across all its electric vehicles.

As well, General Motors (GM) has adopted a different strategy from its rival Ford (F). General Motors plans to offer electric vehicles in the entry-level, midsize, truck, luxury crossover, and SUV product categories.

During Ford’s recent earnings report, CEO Jim Farley stated that the company will focus on two segments of the electric vehicle market: the lower end, with a cheaper second-generation EV, and the higher end, with trucks and full-sized vans. This will result in the abandonment of the middle of the market.

SEE ALSO:

Ford’s Raising Dividends And Slowing Electric Car Production

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