General Motors unveiled the Chevrolet Equinox EV, scheduled to go on sale in the U.S. next fall, starting at around $30,000.
As the Detroit company is betting hard on electric vehicles, the new midsize SUV will get up to 300 miles of range. Its expected starting price at roughly $30,000 is less than half the $66,000 average price of EVs on the market, according to Cox Automotive.
“We are at a turning point where EVs will be the mainstream choice for the next generation of customers and Equinox EV will lead this charge for us,” said Mary Barra, Chair and CEO of General Motors. “With the flexibility of GM’s Ultium Platform, we are bringing to market vehicles at nearly every price point and for every purpose.”
The Equinox EV production is expected to ramp up gradually in the coming years. The new model will join EV versions of the Silverado pickup and Blazer SUV launched earlier this year.
As automakers keep struggling with rising costs to build electric vehicles and batteries and the whole industry is impacted by historic inflation and supply chain constraints, most automakers have been raising prices for their entry-level EVs.
Last year GM CEO Mary Barra said the automaker can catch industry leader Tesla in U.S. sales by 2025.