General Motors (NYSE: GM) strives to establish itself as a leader in all-electric vehicles and unveiled its Chevrolet Equinox EV, set to arrive next year. The all-electric crossover is set to come to market in the U.S. by next fall, with a starting price of USD30,000, the lowest price available for an all-electric vehicle.
“An electric Equinox is important to GM because it is a high-volume model in the most popular segment in the industry,” said Michelle Krebs, executive analyst at Cox. “We know from our studies that price of EVs is the No. 1 obstacle to EV adoption with range and charging infrastructure falling.
“Affordable EVs are critical to proliferating EVs.”
Company executives believe that the 2024 Equinox EV, will become a high-volume seller for the automaker. General Motors’ goal is to fully transition to electric vehicles and trucks by 2035.
“We think this is our big opportunity here to really start to get a massive adoption, and we have that expectation with the price; the volume that we expect to do,” Scott Bell, global vice president of Chevrolet, said during a media briefing. “This is a game changer for us and for the industry.”
According to Bell, the Equinox EV production within GM’s Ramos Arizpe plant in Mexico will slowly increase production throughout the next few years. GM is expected to produce other electric vehicles including versions of the Silverado pickup, Blazer SUV, as well as the Bolt EV and EUV models for Chevrolet.