Skip to main content
  1. Home
  2. Auto

The Chevy Equinox EV could be available for less than $30k in 2024 — but there is a catch

The Chevy Equinox EV will be more affordable than ever

James Dolan
By

Front end of 2024 Chevrolet Equinox EV 1LT on a street with trees in the back.
Earlier this year, GM announced it was killing its most affordable and popular EV — the Chevy Bolt. With the Chevy Bolt discontinued, GM will need another affordable EV to fill that space. Its best candidate is the Chevy Equinox EV, and the automaker promised it would sell for less than $30k.

Well, the Chevy Equinox will finally hit the dealerships by early 2024, and you could still have it for less than $30k — but there is a catch. According to GM, the Chevy Equinox base model will start at $34,995 inclusive of the destination fee. That’s not the less than $30k we were promised, but if you qualify for the electric vehicle tax credit, you could reduce the price by $7,500 to $27,495.

Recommended Videos

GM also says that the Equinox EV 1LT base model with front-wheel drive is expected to have an electric range of up to 300 miles. This would be a vast improvement, considering it was initially estimated to have a range of up to 250 miles. However, the 210 hp powertrain on the Equinox EV 1LT base model with front-wheel drive will likely remain unchanged.

2024 Chevrolet Equinox EV 3LT.
Chevrolet / Chevrolet

When can you expect the $34,995 Chevy Equinox SUV to hit the market? GM hasn’t confirmed when exactly it will be available for purchase, but it will likely be in late 2024. Before then, GM will produce the 2024 Chevy Equinox 2RS FWD trim, which starts at $48,995, and the 2RS AWD with a price tag of $52,395. The 2RS FWD model is EPA-certified with a range of 319 miles, while the more powerful 290 hp all-wheel drive 2RS model is expected to have a range of up to 280 miles.

Related

In addition to that, the 2RS models will include 21-inch wheels, a 17.7-inch interior touchscreen display with the latest technology, and a fast charging speed of up to 150 kW. The Equinox 2RS FWD and 2RS AWD models are scheduled to be delivered to customers by early 2024, and they will also be eligible for the full federal EV tax credit.

But if you prefer a premium Chevy Equinox SUV, GM will offer the 3LT and 3RS trims, but the prices have yet to be confirmed. For now, all we know is the $34,995 Chevy Equinox SUV will only be available after the 2RS FWD and 2RS AWD models hit the market. If GM delivers on that promise, the Chevy Equinox will be one of the most affordable electric vehicles you could own.

Editors' Recommendations

Topics
James Dolan
James Dolan
Contributor
James Dolan is an automotive writer with extensive work experience having been published on The Drive, Hot Cars, Green…
GM slashes EV production in half for 2024, still plans to have 1,000,000 electric cars by 2025
GM won't make quite as many EVs as it said (yet)
Cadillac Escalade IQ

Back in October 2023, GM announced plans to produce 400,000 electric vehicles by the middle of 2024 and reach an annual production capacity of a million EVs by the end of 2025. While the Detroit-based manufacturer believes it is still firmly on track to achieve its long-term goal, its plans for this year appear to have been scaled down somewhat.

Instead of having 400,000 more electric cars ready to go by summer, GM will instead aim to have 300,000 of the zero-emission vehicles ready to roll at best. That number could also be as low as 200,000 if production hits the low end of GM’s estimates. The decision to scale back the company’s EV goals was revealed by CEO Mary Barra during GM’s Q4 2023 earnings call.

Read more
Fewer EVs qualify for the $7,500 EV tax credit in 2024
Your EV tax break is going away
Charging a Ford F-150 Lightning EV with a Level 2 wall charger in a garage.

In August 2022, President Joe Biden signed the Inflation Reduction Act into law and repealed the previous electric vehicle tax credit that had been in effect since 2010. Unlike the previous guidelines, in which any EV could qualify for a tax credit of up to $7,500 as long as the manufacturer hadn’t sold over 200k EVs, the Inflation Reduction Act only favored electric vehicles made in America with no limit on the manufacturer sales. As a result, major automakers such as Tesla and GM made it back on the list after they were locked out in the old rules for surpassing the 200k sales.

However, electric vehicles that are made in North America are required to meet specific requirements to qualify for the federal EV tax credit. More succinctly, the federal government imposed a price cap limit and a certain percentage on the battery components and critical minerals that are used to manufacture electric vehicles. But that’s not all; the requirements get higher every year, which means fewer EVs will qualify for the $7,500 federal tax credit in 2024 than in 2023. Why is it so? 

Read more
Chicago, Tesla show how climate change is beating EVs
Charging EVS at home may be the best cold weather practice.
Telsa

Tesla Cybertruck snow performance isn't the only climate-related EV problem. Frigid Arctic temperatures caused havoc among Chicago-area EV owners in mid-January. During extended hours of sub-zero temperatures, EV batteries couldn't hold their charge, and charging took much longer than usual. Charging times grew, and waiting times multiplied at charger locations overwhelmed by the weather.

TV news pieces showed Tesla supercharger stations with long lines of cars waiting to charge and people pushing Teslas with depleted batteries to parking spaces. Tesla is an easy target, but the very low temperatures affect all EVs with Lithium-ion batteries.

Read more