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This one's meant to be among the more affordable EVs out there and is slated for release next year and is targeted to start around $30K which would probably have around 250 miles of range. There's likely a larger battery pack version that will target 300 miles of range. Given the info released so far, there's nothing yet that disqualifies it for the Inflation Reduction Act's $7,500 credit which would put the base trim in a very affordable range for entry level crossovers.
Yes - Chevy had announced that level of pricing in January, but I was expecting it to be revised upward as they got closer to the product's introduction, between supply chain related inflation and other developments in the project. It looks though, like they're sticking to that, which is *extremely* competitive - this is a pretty good sized vehicle, similar to a RAV4 or Forester, and upsized from the 2022 ICE Equinox.
Last edited by OutdoorLover; 09-08-2022 at 02:02 PM..
Yes - Chevy had announced that level of pricing in January, but I was expecting it to be revised upward as they got closer to the product's introduction, between supply chain related inflation and other developments in the project. It looks though, like they're sticking to that, which is *extremely* competitive - this is a pretty good sized vehicle, similar to a RAV4 or Forester, and upsized from the 2022 ICE Equinox.
Do note that the 30k is for the 1LT Slow. Basically just don't expect that one to have your it's pretty peppy since it's an EV aspect to it. With no hp/torques specs on the 1LT Slow and no price on the regular 1LT or up it's hard to say if it makes sense. I imagine the Slow is certainly adequate enough (gas compact CUVs aren't known for being fast either) but you'll need to step up to the 1LT Regular if the peppy is important for you. Regardless, starting at 30k that immediately on paper is very notable. The Ioniq 5 Slow has less range and starts at 40k, ID.4 Short again less range (although no drop in power) at $38.5.
Do note that the 30k is for the 1LT Slow. Basically just don't expect that one to have your it's pretty peppy since it's an EV aspect to it. With no hp/torques specs on the 1LT Slow and no price on the regular 1LT or up it's hard to say if it makes sense. I imagine the Slow is certainly adequate enough (gas compact CUVs aren't known for being fast either) but you'll need to step up to the 1LT Regular if the peppy is important for you. Regardless, starting at 30k that immediately on paper is very notable. The Ioniq 5 Slow has less range and starts at 40k, ID.4 Short again less range (although no drop in power) at $38.5.
Sure - people shouldn't expect to get a $50,000 EV for $30,000, but the only others in this price class are the Nissan Leaf Plus - which starts at $37K and is smaller and has less range, and no AWD two-motor option; the Hyundai Kona EV - which starts at $34K and is also smaller, has a max 258mi range, and again no AWD two-motor option, and the Chevy Bolt EUV, which undercuts it a little on price - starting at $27K, but again is smaller, with a max 247mi range, and no AWD two-motor option. The ID.4 is probably the closest competitor in size and capabilities, but it still starts at $7.5K more, which is 25% more in this price range - for many buyers, that's not a trivial increase.
Made in Mexico? Doesn't that disqualify it for the tax credit?
It's really hopelessly hard to tell. GM has factories in the US assembling EVs but they GM/LG just started production at the Ultium plant in Lordstown last week. I think all the Bolt/EUV batteries are now made here, but they may also still be importing them from S. Korea as well particularly with the demand to recall all the previously built ones plus build new Bolts. By 2023 hopefully there will be more clarity on which EVs will be eligible for the subsidies.
Sure - people shouldn't expect to get a $50,000 EV for $30,000, but the only others in this price class are the Nissan Leaf Plus - which starts at $37K and is smaller and has less range, and no AWD two-motor option; the Hyundai Kona EV - which starts at $34K and is also smaller, has a max 258mi range, and again no AWD two-motor option, and the Chevy Bolt EUV, which undercuts it a little on price - starting at $27K, but again is smaller, with a max 247mi range, and no AWD two-motor option. The ID.4 is probably the closest competitor in size and capabilities, but it still starts at $7.5K more, which is 25% more in this price range - for many buyers, that's not a trivial increase.
And in price, although not size and capability, the base model Nissan Leaf at $2,000 less. That's pretty wild to me. Of course GM still needs to build them and not pull a Rivian.
And in price, although not size and capability, the base model Nissan Leaf at $2,000 less. That's pretty wild to me. Of course GM still needs to build them and not pull a Rivian.
They are already selling the base '23 Bolt EUV for $27k (and the fully loaded on for $35k, which I now have on order) so there's no reason to think that they won't deliver on the base $30k Equinox, since this size crossover is already something they make and sell with no issues.
Remember, they've committed to buying 200,000 tons of lithium per year from Controlled Thermal Resources in California for their new battery facility to make sure the batteries are cheaper than they currently are.
Quote:
GM said a “significant amount” of the lithium it needs for its EV batteries will come from CTR’s “Hell’s Kitchen” development site in the Salton Sea Geothermal Field, located in Imperial, California. The California Energy Commission estimates the area could produce 600,000 tons of lithium carbonate annually, worth $7.2 billion.
“It’s the single largest lithium brine resource in the United States, if not on the planet… It will be a critical hub,” Rod Colwell, CEO of CTR, told Fortuneearlier this month.
There won’t be an immediate payoff for GM’s investment, the size of which the company declined to disclose. The first stage of CTR’s project is not expected to yield lithium until 2024. But Grewe said GM will try to synthesize the lithium for its batteries as “quickly as it can, trying to beat [2024]” if possible.
They are already selling the base '23 Bolt EUV for $27k (and the fully loaded on for $35k, which I now have on order) so there's no reason to think that they won't deliver on the base $30k Equinox, since this size crossover is already something they make and sell with no issues.
Remember, they've committed to buying 200,000 tons of lithium per year from Controlled Thermal Resources in California for their new battery facility to make sure the batteries are cheaper than they currently are.
Bit of healthy skepticism. My reservation on the F150 Lightning got called up not so long ago. I was told to either pay an extra 35,000 or head on back in line. Now Ford does have its production schedules and reservations are called in waves. By the time my wave was called up the only production unfilled was the extended range packs. Wait and see. Ford claims they will follow up. How many Pro models they choose to build is really more what I'm interested in than the 2022 price. The 2023 Lightning price increase reads less the intended from the outset bait and switch that Rivian pulled. It's reasonable in these market conditions. On the other hand if the 2023 and 2024 production schedules come and go Ford keeps on saying an extra 35,000 or head on back and wait for 2025 MY....
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