General Motors released final pricing and range details about the upcoming Chevy Equinox EV, which will be available for ordering later this year. For years, the automaker has been positioning the Equinox as its great equalizer, affordably priced and with enough range to be everyone’s first EV. And now we have the numbers to see whether those promises hold true.
The single-motor, front-wheel drive 1LT model of the Equinox EV, which will be the first one available to customers, will start at $34,995 and get an EPA-estimated range of 319 miles. Sure, that’s more than the “around $30,000” that GM had long promised would be the Equinox’s starting price.
that’s more than the “around $30,000” that GM had long promised
But it also doesn’t take into account the Equinox’s eligibility for the $7,500 federal EV tax credit, which the automaker says will be available to customers at the point of purchase. Applying the tax credit reduces the base model’s starting price to $27,495.
Of course, there are a lot of factors to determine whether someone is eligible to receive the tax credit, including household income requirements and annual tax liability. And the Equinox EV itself may eventually lose its eligibility depending on where its battery materials are processed. GM spokesperson Kellie Van Maele said the company was only sharing 2024 eligibility at this time.
After the 1LT model, prices start to go up. Here’s how GM says it will break down for each trim level (all prices include the $1,395 destination charge):
GM also released range details about the forthcoming all-wheel drive version of the Equinox EV — but not pricing. With an extra motor adding to the overall weight, the dual-motor AWD variant will get an EPA-estimated range of 285 miles. Each version will eventually have the option to upgrade to AWD.
All in all, the Equinox looks like it will be extremely competitive when it finally arrives. GM originally said models would start to hit dealerships in 2023, but that was pushed to 2024 as a result of weakening demand for EVs and the autoworker strike of last year.
GM said the Equinox EV will beat other entry-level models in its segment, including the Tesla Model Y, Hyundai Ioniq 5, Nissan Ariya, Volkswagen ID.4, and Volvo EX30. That may be true, but there are also plenty of used EVs on the market now — Hertz is selling dozens of affordably priced used Tesla Model 3s, for example — that will probably be more attractive to budget-conscious shoppers.