GM Chevy Equinox EV goes on sale

DETROIT – The Chevrolet Equinox has been a crucial part of General Motors' alignment for two decades. The vehicle is a quintessential family vehicle and an ideal car for people looking for an affordable compact crossover for daily driving.

GM hopes the 2024 Chevrolet Equinox EV can do the same for its growing portfolio of all-electric vehicles as it begins shipping the crossover to dealers amid slower-than-expected demand for electric vehicles. The launch marks the latest test for mass market adoption as well as the company's production of new “Ultium” electric vehicle technologies.

“It's very important to us, but more importantly, it's very important to customers and people who want affordable, electric vehicles,” GM President Mark Reuss told CNBC last week. “This is about $27,500 [including up to $7,500 in federal incentives] “For a car with a range of over 300 miles, you're right in the heart of it all.”

Offering a new electric vehicle for around $25,000 has long been the goal of automakers like GM, tesla and others. The importance of such a vehicle has become more evident as Chinese automakers like BYD and child increase its sales of less expensive electric vehicles outside China.

The Equinox EV launches with higher-priced models starting between $43,000 and $51,100 (without any incentives). The base model Equinox LT, starting at about $35,000, is expected to be available later this year.

“The Equinox EV is the vehicle that will really make a difference for many customers who perhaps weren't interested or looked at electric vehicles before,” Kathleen Murawski, marketing and advertising manager for Equinox electric and gasoline-powered vehicles and Chevy Blazer . Electric vehicles, she told CNBC.

GM sells hundreds of thousands of gas-powered Equinox crossovers annually, including 212,701 last year. The crossover is typically one of GM's best-selling vehicles and a top-five seller in its segment, according to Autopacific.

The Equinox EV is GM's new entry point for all-electric vehicles in the US after the automaker discontinued the Chevy Bolt last year. It is expected to be GM's best-selling electric vehicle.

With sales expectations so high, it will also test the legacy automaker's ability to successfully mass-produce an Ultium-based electric vehicle after more expensive vehicles like the $110,000 GMC Hummer EV, $60,000 Cadillac Lyriq and a failed launch of the Blazer EV, starting at about $55,000. , due to software problems.

“We have done the right launch of this vehicle. We have the right quality of this vehicle. We have the right software of this vehicle. We are very excited to now see where it goes,” the GM president said. of Global Markets, Rory Harvey, told CNBC. “We believe we have a product that is there to win.”

The Equinox EV will hit the market after the Blazer EV and alongside GM's $96,000+ Silverado EV RST. The company already launched a work truck version of the Silverado EV.

The ramp-up of production of GM's new electric vehicles (using what the automaker calls its “Ultium” platform, batteries and other technologies) has been slower than the company and investors expected. The Equinox will change that, according to GM North America president Marissa West.

“We've eliminated production constraints and now it's about meeting customer demand with the most affordable, longest-range vehicle on the market at the heart of our Chevrolet lineup, which is… the heart and soul of General Motors “West said. he said during an interview Monday.

Paul Waatti, director of industry analysis at AutoPacific, agrees. He called the Equinox a critical product for GM's electric vehicle plans, as well as a possible redemption opportunity for the company after its disappointing ramp-up of current Ultium-based products.

“GM is going to start to see real volume in its electric vehicle portfolio,” Waatti said. “It was a slow start, but now they're going to have high-volume players in the mix. It's really a turning point for GM.”

“[The Equinox is] Without a doubt, the most important Ultium launch for GM yet,” he added. “It could be the most attractive electric vehicle on the market right now.”

All that said, the Equinox EV is an Equinox in name only. It shares little to nothing with the traditional gasoline-powered vehicle, which the company redesigned to look more rugged for the 2025 model year.

The Equinox EV is wider and lower than the traditional crossover. It's the result of GM's Ultium EV platform, aerodynamics and other vehicle-specific features, including an EPA-estimated range of up to 319 miles on a single charge.

A standard front-drive Equinox EV has 213 horsepower and 236 pound-feet of torque, according to company estimates. GM says the optional all-wheel drive models have an estimated 288 horsepower and 333 pound-feet of torque.

Outside the US, the Equinox EV will be sold in Canada, Mexico, the Middle East and some South American markets, such as Brazil.

Brad Franz, Chevy's director of automotive and crossover marketing, said keeping familiar names for electric vehicles was a “strategic decision” to leverage names people know and trust.

“Chevy's pitch here is that these can make your life easier. Not just easier, but better,” he said Thursday during a media event. “How are we going to address that? We'll start by just leveraging our brand reputation.”

Keeping the same names also aligns with the company's goal of exclusively offering electric vehicles to consumers by 2035. While the automaker hasn't changed that goal in light of slower-than-expected EV sales, recently changed its message to signal the transition. It will be based on customer demand.

GM ranked fourth in U.S. all-electric vehicle market share during the first quarter, accounting for 6.1% of new electric vehicles sold, according to data provided by Motor Intelligence. teslaat 52.3%, it is by far the leader in estimated US EV sales, followed by hyundaiincluding Kia, with 9.3% and Ford engine at 7.5%.