NEW YORK: 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.
The 2024 Equinox EV, which will be available in the fall of 2023, has a starting price of $30,000, less than half the average price of electric vehicles on the market.
“We are at an inflection point where electric vehicles will be the primary choice for the next generation of customers, and the Equinox EV will lead the charge for us,” said Mary Barra, CEO of General Motors.
The launch is part of an aggressive EV strategy by the auto giant amid the industry’s gradual shift towards zero-emission vehicles, which includes battery plants and massive investment under its Ultrium banner.
“With the flexibility of GM’s Ultium platform, we’re bringing vehicles to market at nearly any price point and for any purpose.”
The gasoline version of the Equinox was GM’s second most popular pickup truck in 2021, after the Chevrolet Silverado.
GM described the model as part of the “compact SUV segment” where it will be “the most affordable electric vehicle in its class.”
However, GM’s first affordable electric vehicle, the Chevy Bolt, is suffering from a recall due to battery problems.
GM has previously revealed that the Equinox is aimed at middle-income consumers, announcing in January that the vehicle will start at $30,000 at an event to launch the electric Silverado.
According to Kelly Blue Book estimates in July 2022, the average price of a new electric car was nearly $67,000.