(NewsNation) — Automaker General Motors has announced the final price and range of its long-anticipated Chevy Equinox EV.
The electric SUV starts at $34,995 for its front-wheel drive 1LT trim. Higher-end trims will start between $43,295 and $46,795. All have an estimated range of 319 miles per full charge.
Like many other electric vehicles, the Equinox is eligible for the federal government’s $7,500 EV tax credit, which brings the price of the 1LT trim to $27,495, below the $30,000 price GM had said it was targeting for the car.
The Equinox is expected to compete with other manufacturers’ entry-level EV models such as the 2024 Tesla Model Y ($43,990), 2025 Volvo EX30 ($36,245), 2024 Hyundai Ioniq 5 ($43,175) and the forthcoming 2024 Nissan Ariya (estimated around $45,000).
More than one million EVs were sold in 2023, according to a BloombergNEF report, which attributed the surge to “a combination of policy support, improvements in battery technology, more charging infrastructure and new compelling models from automakers.”
However, some dealers believe the supply of EVs is starting to outweigh demand for them, with one recently telling NewsNation’s Stephanie Haines that “it’s the government that is really pushing” for the sale of EVs.
The Equinox EV will go on sale to the public later this year.