Chevrolet arrived early to the EV revolution. The company launched the
Chevy Boltin 2017, back when the cheapest Tesla still cost over $60,000, and any model cheaper than that could barely take you more than 100 miles on a full charge.
Since then, General Motors’ (GM) largest brand has kept up with the electric car output of its competitors. CEO Mary Barra’s recent presentation at the Consumer Electronics Show (CES) showcased the all-electric version of Chevy’s pickup truck, the
Press and critics knew about the electric Silverado waiting in the wings. What they didn’t expect was the announcement made at the end of the speech—release dates for the electric versions of the Equinox and Blazer.
Jerrywent digging to find out more.
What we know about the electric Equinox and Blazer so far
The Equinox and Blazer are two of Chevy’s most popular SUVs. Offering electric versions will help the automaker stay competitive in the escalating EV market.
Kelley Blue Book(KBB) says both EVs are set for the 2024 model year and will be available in the fall of 2023.
On top of the surprise that these two electric SUVs are in the works, audience members at Barra’s presentation were also shocked by the planned price for the Equinox EV. The vehicle will start at around $30,000.
Details about both EVs are slim, but they will likely sit atop GM’s Ultium platform which the company originally revealed in 2020 and plans to use for the GMC Hummer EV, Cadillac Lyriq, and Chevy Silverado.
How will the new Chevy electric cars fit in the EV market of 2023?
The pool of EVs is growing quickly, and by the 2024 model year, it will be even more crowded. Every automaker, from new startups to longstanding brands, has plans to bring electric vehicles to consumers in the next few years.
The strength of the electric Equinox and Blazer will be in their pricing. Market growth is still dominated by luxury brands old and new, so if Chevy can offer both long-range electric SUVs for less than $40,000, they’ll have far less competition to deal with.
As of this month,
Car and Driversays Ford, Subaru, and Toyota are the only brands outside the GM family expected to offer electric SUVs in that price range by 2024. Even brands that usually compete with Chevy like Jeep and Nissan plan to sell their models for closer to $50,000.
What will car insurance look like for Chevy’s new electric SUVs?
car insurancefor EVs is still more expensive on average than it is for gas-powered vehicles. This is in part due to the fact that most of them are made by luxury brands, but it also has to do with the high cost of replacement parts like batteries.
As electric vehicles become more common and the insurance industry adapts to the changes in the auto industry, premiums might even out. But the bump in price will likely still be there when the Equinox EV and Blazer EV reach dealerships.
If you buy one of Chevy’s new electric SUVs when they arrive, be sure to shop for car insurance with Jerry. Once you download Jerry, just take roughly 45 seconds to answer a handful of questions and you’ll immediately get quotes sourced from more than 50 insurance providers.