GM bets on electric Equinox to kickstart ‘massive adoption’ of EVs

2024 Chevrolet Equinox EV 3LT

GM

DETROIT – General Motors’ second chance to establish itself as a mass-market electric vehicle leader is expected to begin next year with the arrival of the Chevrolet Equinox EV.

The electric crossover is slated to go on sale in the US next fall, starting at around $30,000 – a price level that many automakers have yet to reach as costs to build electric vehicles and the batteries needed to power them continue to rise. rise.

GM executives expect the 2024 Equinox EV, which officially launched Thursday, to be a high-volume seller for the Detroit automaker, as it transitions to exclusively offer electric cars and trucks by 2035.

“We think this is our big opportunity here to really start getting massive adoption, and we have that expectation at the price; the volume we expect it to deliver,” Scott Bell, global vice president of Chevrolet, said at a press conference. . “This is a game changer for us and the industry.”

Bell said production of the Equinox EV at GM’s Ramos Arizpe plant in Mexico will increase gradually over the coming years. The Equinox EV is expected to join the electric versions of the Silverado pickup, the Blazer SUV, and the cheaper and smaller Bolt EV and EUV models for Chevrolet.

GM CEO Mary Barra last year said the Detroit automaker could “absolutely” capture industry leader Tesla in U.S. electric vehicle sales by 2025. The plan includes more than 1 million units of EV production capacity in China and North America, respectively, at the time. .

Price for sale?

The expected starting price of the Equinox EV is around $30,000, less than half the average transaction price of $66,000-plus electric vehicles currently on sale, according to Cox Automotive. The price also brings the Equinox in line with gas-powered compact crossovers/SUVs with a median price of $35,300, according to the auto forecasting and research firm.

“The electric equinox is important to GM because it’s a high-volume model in the industry’s most popular segment,” said Michelle Krebs, executive analyst at Cox. “We know from our research that EV price is the No. 1 barrier to EV adoption with reduced range and charging infrastructure.

“Affordable EVs are essential for EVs to proliferate.”

2024 Chevrolet Equinox EV 3LT

GM

The Chevy Bolt, which went on sale in December 2016, is expected to be GM’s first affordable, mainstream electric vehicle but annual sales have yet to hit 25,000 – a far cry from mainstream sales like the gas-powered Equinox at hundreds of thousands of units per year.

“The Bolt has seen mild success but was never really intended as a high-volume EV model,” said Paul Waatti, manager of industry analysis at AutoPacific. “Funky design and market positioning requires a bit of a unique buyer.”

The Equinox EV will enter a much larger market than the smaller Bolt model. The new crossover is powered by GM’s next-generation Ultium electric vehicle platform which is expected to enable more technology and capabilities compared to the battery technology of existing Bolt models.

2024 Chevrolet Equinox EV 1LT

GM

EV Equinox

The Equinox EV is expected to offer a range of between 250 miles and 300 miles, depending on the model and battery. The standard front-wheel-drive Equinox is projected to offer 210 horsepower and 242 foot-pounds of torque, with the all-wheel-drive model reaching 290 horsepower and 346 foot-pounds of torque.

Despite its name, the Equinox EV has almost nothing to do with traditional gas-powered models. It has more in common with the recently launched Chevrolet Blazer, which also uses GM’s Ultium platform and battery.

2024 Chevrolet Equinox EV 1LT

GM

The Equinox EV will feature better performance than its gas-powered namesake, but fall short of the performance of the Blazer EV, which starts at $45,000 and offers up to 557 horsepower and 648 pound-feet of torque.

The interior of the electric vehicle is also similar, including the 17.7-inch diagonal infotainment touchscreen that comes standard on the Blazer and optional on the Equinox.

GM reveals 2024 electric Chevrolet Blazer EV

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