GM bets on electric Equinox to kick off ‘mass adoption’ of EVs

2024 Chevrolet Equinox EV 3LT

GM

DETROIT — General Motors’ second chance to establish itself as a mass-market leader in all-electric vehicles is set to begin next year with the arrival of the Chevrolet Equinox EV.

The all-electric crossover is expected to go on sale in the United States next fall, starting at around $30,000 – a price point that many automakers have been unable to reach because the cost of building electric vehicles and the batteries needed to power them continues to rise.

GM executives expect the 2024 Equinox EV, officially unveiled on Thursday, to become a high-volume seller for the Detroit automaker as it shifts to exclusively offering electric cars and trucks from here. 2035.

“We think this is our big opportunity here to really start getting mass adoption, and we have that expectation with the price; the volume that we expect to do,” said Scott Bell, Chevrolet global vice president, during a press briefing. . “It’s a game-changer for us and for the industry.”

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

GM CEO Mary Barra said last year that the Detroit automaker could “absolutely” catch up with industry leader Tesla in U.S. electric vehicle sales by 2025. Those plans include more than one million units of electric vehicle production capacity in China and North America each by then. .

Sale price?

The expected starting price of the Equinox EV at around $30,000 is less than half the average transaction price of more than $66,000 for electric vehicles currently on sale, according to Cox Automotive. Pricing also aligns the Equinox with gas-powered compact crossovers/SUVs at an average price of $35,300, according to the automotive research and forecasting firm.

“An 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 studies that the price of electric vehicles is the main barrier to the adoption of electric vehicles with decreasing range and charging infrastructure.

“Affordable electric vehicles are key to the proliferation of electric vehicles.”

2024 Chevrolet Equinox EV 3LT

GM

The Chevy Bolt, which went on sale in December 2016, was supposed to be GM’s first affordable consumer electric vehicle, but its annual sales have yet to top 25,000 – a far cry from mainstream sales such as the Equinox. gasoline to hundreds of thousands of units per year.

“The Bolt was moderately successful, but was never really intended as a high-volume electric vehicle model,” said Paul Waatti, head of industry analysis at AutoPacific. “Funky design and market positioning require a bit of a one-time buyer.”

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

2024 Chevrolet Equinox EV 1LT

GM

Equinox EV

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

Despite its name, the Equinox EV shares little or nothing with the traditional gasoline model. It has more in common with the recently unveiled Chevrolet Blazer, which also uses GM’s Ultium platform and batteries.

2024 Chevrolet Equinox EV 1LT

GM

The Equinox EV will offer better performance than its gas-powered namesake, but falls 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.

EV interiors are also similar, including a 17.7-inch-diagonal infotainment touchscreen that’s standard on the Blazer and optional on the Equinox.

GM Unveils 2024 Chevrolet Blazer Electric

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