AUTO

The Chevy Equinox EV Could Be 2024’s Most Affordable EV

February 23, 2024

The 2024 Chevy Equinox EV could be the lowest-priced new electric vehicle available in the U.S.
General Motors announced updated pricing information for the Chevy Equinox EV, with the entry-level 1LT model now starting at $34,995.
Chevy Equinox EV’s eligibility for the federal tax credit of $7,500 is expected, which would drop the price of the 1LT model for eligible buyers to as low as $27,495.

The 2024 Chevy Equinox EV could be a game-changer as the lowest-priced new electric vehicle available in the U.S. General Motors announced updated pricing information for its Chevy Equinox EV, with the entry-level 1LT model now starting at $34,995. This represents a significant increase from the initially projected $30,000 starting price. However, potential buyers might find solace in federal tax credits that could provide financial relief.

Customers Can Order the 2024 Chevrolet Equinox EV Now

GM has declared the opening of order books for most of the Chevrolet Equinox EV lineup, with the reservation for the base 1LT model slated for later in 2024, though an exact date is still pending. GM remains optimistic about the price, touting the Chevy Equinox EV 1LT as a candidate for the most affordable electric vehicle in the U.S. market, boasting an impressive range of over 300 miles. The 2024 Chevy Equinox EV price is predicted by experts to be the lowest among all 2024 EVs in the American market.

MSRP for the Equinox EV variants is below, including destination charge but excluding tax, title, and dealer fees:

1LT FWD starting at $34,995
2LT FWD starting at $43,295
2RS FWD starting at $44,795
3LT FWD starting at $45,295
3RS FWD starting at $46,795

The Equinox EV Is Eligible for Federal Tax Credit

Also noteworthy is the Equinox EV’s eligibility for the federal tax credit of $7,500, which, when applied, drops the entry price of the Equinox EV 1LT model for eligible buyers to as low as $27,495. The Equinox EV 2LT model also becomes significantly more affordable at $35,795.

In today’s market, the next most budget-friendly option providing over 300 miles of range is the Tesla Model Y Long-Range, which starts at just over $40,000 with the tax incentive included.

GM has additionally confirmed the all-wheel-drive (AWD) version of the Chevy Equinox EV reaching an EPA-estimated range of 285 miles. Pricing for the AWD models, however, remains under wraps. If GM can deliver on its promises of range and reliability, this Chevy EV could become a formidable rival to the likes of Tesla Model Y, Hyundai Ioniq 5, Volkswagen ID.4, and the Volvo EX30, provided the production can sustain and satisfy the consumer demand.