An Electric Vehicle That Everyone Can Afford Is Finally Here? 

Chevy is launching its new Equinox EV at a price point $13,000 cheaper than most other EVs on the market.

By Crystal Murdock | Published

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General Motors is making a major play to become the biggest seller of electric vehicles in the world and recently announced a new Chevrolet Equinox EV to be hitting the assembly line in 2023. The midsize EV SUV will hold a battery charge of up to 300 miles with GM’s Ultium platform and will have a sticker price starting at $13,000 less than most EVs currently on the roadways. 

It has been almost a year since the CEO of GM, Mary Barra took the center stage at CES (The annual trade show organized by the Consumer Technology Association) to announce the new Chevy Equinox EV and its low starting price of $30,000 according to The Verge. This means that consumers can purchase the Chevy Equinox EV for $13,000 less than the Ford Mustang Mach-E, and a whopping $35,000 less than the Tesla Model Y. The new Chevy Equinox EV will join GM’s ever-growing line of electronic vehicles such as the Blazer EV, Bolt EV, and the Silverado EV.  

Scott Bell, the vice president of global sales at Chevy says, “We have every intention to build and sell the vehicle that will start in that price range”. The majority of EVs on the roadways today are more expensive than their gas equivalent and GM is hoping to assemble a more affordable EV with a brand that will be recognizable, such as the Chevy Equinox.

Other automobile companies have made promises to roll out other affordable options but end up falling short by the time they factor in the battery costs, issues with supply, and other external factors. Chevy has not released specific details about the battery capacity of the Chevy Equinox EV but has stated the standard front-wheel drive will get 210 horsepower and 242 pound-feet of torque. If a consumer chooses the AWD version of the Chevy Equinox EV they will attain 290 horsepower and 346 pound-feet of torque.  

chevy equinox
Chevy Equinox
Source: Chevrolet

GM is also not holding back on any of the exterior design features in order to keep the Chevy Equinox EV listed at such an affordable price range. The design of the LT trim is much similar to its gas version. There are only really two differences held within the front end which houses a thin light bar that runs the full width of the Chevy Equinox EV and additional exterior designs that align closely with the Ford Mustang Mach-E. GM also is building a nationwide EV charging network in partnership with Flying J and Pilot Truck stops. GM will still be partnering with Tesla’s supercharger network as they currently do not have their own charging stations but they do have their own vehicle apps and software called Ultium Charge 360 network. 

Alongside the announcement of the new affordable Chevy Equinox EV, GM has stated it plans to spend over $30 billion by the year 2025 on the development and creation of an estimated 30 new plug-in EV models in an attempt to take over Telsa. Tesla, the EV company owned by Elon Musk, is still currently ranked the number one EV company in the world.