These 2 American Electric SUVs Start Under $23K After EV Tax Credits
Electric SUVs are known for being expensive compared to mainstream internal combustion engine models. The development of new technology will help drive EV prices down as automakers become more experienced in producing the innovative new vehicles. The federal government under the Biden administration is incentivizing the purchase of electric vehicles, thus making them easier to sell for automakers. Thanks to EV tax credits and General Motors, consumers can get two American electric SUVs for prices under $23,000.
The 2024 Chevy Equinox EV has a low starting price
A press release from Chevrolet claims that the Equinox EV has a starting price of around $30,000. After the federal electric vehicle tax credit, the small electric SUV’s price is closer to $22,500. Taxes and fees will increase the EV’s price, but it’s exceptionally affordable for an electric SUV, especially after the incentive.
The 2024 Chevy Equionox EV 1LT FWD makes 210 horsepower and 242 lb-ft of torque. It has 250 miles of driving range. The Equinox EV may not be quick or powerful, but it has practical driving range and a starting price that most drivers are able to afford.
It seems like General Motors has successfully created a mainstream small electric SUV nameplate with the Equinox EV. It will likely inspire several small electric SUVs across the American automaker’s portfolio of brands.
The Equinox EV could disrupt its vehicle segment because it’s much more affordable than competitors like the Ford Mustang Mach-E, yet it has more standard driving range. Its tax credit eligibility is the icing on the cake.
The 2023 Chevrolet Bolt EUV is incredibly affordable
The Chevy Bolt EUV starts at just $27,800. According to CBSNews.com, the Bolt EUV is eligible for the $7,500 federal electric vehicle tax incentive. That brings its starting price closer to just $20,300.
The 2023 Chevy Bolt EUV makes 200 horsepower and 266 lb-ft of torque. The subcompact electric SUV can travel for an estimated 247 miles on a full charge. The Bolt EUV’s value proposition is unparalleled when it’s eligible for the tax credit.
Car and Driver calls the Bolt EUV spacious and praises its tech. U.S. News & World Report claims that the affordable electric SUV is “fun to drive,” and has a “below-average base price.” The Chevy Bolt EUV won’t be eligible for the full federal electric vehicle tax incentive forever. It could be the best time to get one before the nameplate is gradually phased out of its tax credit eligibility.
Chevrolet offers unprecedented electric vehicle prices
It’s no secret that General Motors aims to make a name for itself in the EV space. Tesla currently dominates the electric vehicle market, but competitors are gaining on the American automaker.
General Motors couldn’t beat Ford to the punch when it comes to being first to market, but Chevy’s small electric SUV is the most affordable in its segment by leaps and bounds. Chevrolet’s subcompact electric SUV made history as the most affordable electric SUV. Is Chevy going to be a major contender in the electric vehicle arena once consumers start to take advantage of federal EV tax incentives?