American legacy automaker General Motors finally announced the new pricing of the 2024 Chevrolet Equinox EV on Monday, starting at $34,995 before government incentives.
With this price tag, the company expects the base 1LT variant to become the cheapest EV with 300+ miles of range in the US market.
Updated pricing
GM announced plans to open order books for the 2024 Chevrolet Equinox EV “soon,” Cars.com reports. However, the entry-level variant will not accept orders until late this year.
Presented below are the manufacturer’s suggested retail price (MSRP) for the new Chevrolet Equinox EV variants:
| Variants | MSRP |
| 1LT FWD | $34,995 (available later in 2024) |
| 2LT FWD | $43,295 |
| 2RS FWD | $44,795 |
| 3LT FWD | $45,295 |
| 3RS FWD | $46,795 |
It must be noted that these prices already include a $1,395 destination charge. However, it has yet to add tax, title, and dealer fees. It still also does not apply the $7,500 federal tax credits under the Inflation Reduction Act.
Tax credit eligibility
Although GM failed to keep its promise of a $30,000 base price, the 2024 Chevy Equinox EV customers can benefit from the federal tax credits of up to $7,500 in the US.
Therefore, the MSRP would still change once customers apply the $7,500 tax credits at the point of purchase.
In effect, the price of the base variant 1LT will drop to $27,495, while the 2LT will only cost $35,795. Customers can also benefit from other currently available discounts.
Potential Tesla Model Y challenger
The 2024 Chevrolet Equinox EV’s federal tax credit eligibility beat the Tesla Model Y Long Range as the cheapest model with more than 300 miles of driving range. For context, the Tesla e-SUV costs over $40,000 after the federal tax credits.
If the new Equinox EV proves its capability to deliver more than 300 miles of driving range between charges, it could potentially become a strong Tesla Model Y competitor. It can also challenge the popularity of other foreign models, including the Hyundai Ioniq 5, Volkswagen ID.4, and the Volvo EX30 etc.
Notably, the 2024 Chevrolet Equinox EV’s FWD variants generate an output of 213 horsepower and accelerate from 0-60 mph in 7.9 seconds. Meanwhile, the dual-motor AWD variants deliver 288 horsepower and a 0-60 mph acceleration time of 5.9 seconds.
GM has already started producing the Equinox EV at its existing Ramos Arizpe assembly factory in Mexico, with plans to kick off customer deliveries by mid-2024.
