GM maps a slow rollout for its ‘affordable’ EV
General Motors Co (GM.N) said Thursday the Chevrolet Equinox, one of the least expensive of its new generation of electric vehicles for North America, will go on sale in the fall of 2023 priced above the company’s $30,000 target.
The car, which shares the Equinox name with a gasoline-burning Chevrolet compact utility vehicle, is one of three new EVs GM has said it plans to launch that season for the brand in North America.
GM Chief Executive Mary Barra has focused on the Equinox as an “affordable” electric SUV with a starting price of about $30,000, less than half the starting price of Tesla Inc’s (TSLA.O) Model Y.
In a statement, Barra said the Equinox showed GM could offer electric vehicles “at nearly every price point and for every purpose.”
However, the first electric Equinox will be a limited edition 2RS model with an estimated range of 300 miles priced above $30,000, Chevrolet said. The $30,000 1LT version will be launched later.
The electric Equinox models will be assembled in Mexico.