General Motors unveiled an electric sport utility vehicle Thursday with
a starting price tag of $30,000, positioning the model for consumers priced out
of the growing segment.
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The 2024 Equinox EV, which will be available in fall 2023 has a starting
price of $30,000, less than half the average price of EVs now available in the
market.
"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 GM Chief Executive Mary Barra.
The launch is part of an aggressive EV build-out strategy by the auto giant
amid a gradual industry-wide shift towards emission-free vehicles, which
includes battery plants and massive investment under its Ultium banner.
"With the flexibility of GM's Ultium Platform, we are bringing to
market vehicles at nearly every price point and for every purpose."
The gasoline version of the Equinox was GM's second most popular vehicle in
2021 after the Chevrolet Silverado, a pickup truck.
GM described the model as part of the "compact SUV segment," where
it will be "the most affordable EV in its class," the company said in
a news release.
However, GM's initial affordable EV offering, the Chevy Bolt, suffered from
recalls due to battery problems.
GM had previously disclosed that the Equinox would be intended for
middle-income consumers, saying in January the vehicle would start at $30,000
at an event to launch the electric Silverado.
The average price of a new electric vehicles was nearly $67,000, according
to a July 2022 Kelly Blue Book estimate.
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