Chevy Is Working on a Secret EV
Chevy is building one of the cheapest EVs on the market. How much will it cost?
Written by Alex Healey
Reviewed by Kathleen Flear
When it comes to electrification, Chevy is further ahead than most automakers, having sold over 100,000 units of the Bolt EV in the last five years.
Buoyed by this success, Chevrolet is looking to expand its suite of
electric vehicles
, with electric versions of the Silverado pickup and Equinox compact SUV planned for 2023. However, both of these vehicles will cost around $40,000, and many drivers will be priced out of ownership. Recognizing this, Chevy has just announced it is working on a cheaper model. Details are scarce, but the mystery car is expected to cost less than $30,000, making it one of the cheapest electric vehicles in the U.S.
What do we know about the mystery Chevy EV?
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Fox News
quotes GM CEO Mary Barra, who said “affordable EVs…are key to driving mass adoption of EVs, which is a national and a global priority. That's why we plan to follow the Equinox with an even more affordable EV.”Barra promised the mystery car will cost less than $30,000, about $2,000 cheaper than the soon-to-be-defunct Chevy Bolt. Along with all other battery-powered models from Chevrolet, the car will use GM’s brand new Ultium system, and will be available to buy in 2024.
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One of the cheapest EVs on the market
If Chevy follows through with its plan, it will tap into a market that is crying out for more competition—that of the budget electric car.
Here are the 10 cheapest EVs available in the U.S. today (base model price):
- 2022 Nissan Leaf S 40 kW ($28,365)
- 2022 Mini Cooper SE Signature ($30,750)
- 2022 Chevrolet Bolt EV 1LT ($31,995)
- 2022 Chevrolet Bolt EUV 1LT ($33,995)
- 2022 Mazda MX-30 ($34,645)
- 2022 Hyundai Kona Electric SEL ($35,185)
- 2022 Kia Niro EV EX ($41,165)
- 2021 Volkswagen ID4 Pro ($41,190)
- 2022 Ford Mustang Mach-E Select RWD ($43,995)
- 2022 Audi Q4 40 E-Tron Premium ($44,945)
As you can see, the Nissan Leaf is the only model with a sub $30,000 MSRP, and it is good for American consumers that domestic brands are looking to compete in the space.
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