The 2024 Chevrolet Silverado EV Just Jump Started GM Stock
The 2024 Chevrolet Silverado EV is Chevrolet’s first full-size electric pickup truck model. The Silverado EV was announced after some of its major competitors, but it may be the most capable electric truck yet. Here’s why consumers are excited about the Chevy Silverado.
General Motors stock just went up thanks to the Chevy Silverado EV
General Motors stock has had a rocky last few months. Almost every industry has suffered due to the global pandemic, and GM is no exception. In 2020 GM stock plummeted from about $35 a share all the way down to $18.14 a share in March. Nearly two years later, General Motors stock is set to trade at over three times its 2020 low.
As of January 5th, 2022, GM stock sits at just above $64 a share. The stock jumped by 11.59% over the last five days because of the formal introduction of the Chevrolet Silverado EV. While an 11% increase doesn’t seem like anything to write home about, GM stock has hit a six-month high after the 2024 Chevrolet Silverado EV was revealed.
Why are consumers so excited about the 2024 Chevrolet Silverado EV? The excitement stems mainly from the full-size pickup truck’s impressive specs.
Here’s why the 2024 Chevrolet Silverado EV is so exciting
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The 2024 Chevrolet Silverado EV is such an exciting full-size electric truck because it has more range than most other electric pickup trucks. According to Car and Driver, the Silverado EV will have a whopping 400 miles of range. This is astounding compared to the Ford F-150 Lightning’s standard 230 miles of range and maximum 300 miles of range. Say goodbye to range anxiety with the Silverado EV.
Today, the average competitive electric vehicle gets between 220 and 250 miles of range. The Silverado EV stomps on those estimates and makes the range of competitors seem measely. Furthermore, the full-size electric truck doesn’t just have great range. It’s also powerful.
The electric Silverado RST trim will make an astounding 664 horsepower. That being said, the average consumer won’t be able to afford the powerful RST. A fully loaded model can top $105,000.
Is the 2024 Chevrolet Silverado EV a good truck?
The 2024 Chevrolet Silverado EV will not use any parts from previous Silverado models. The full-size pickup shares a nameplate with previous iterations, but Chevy is breaking new ground with this truck. There’s no telling what issues it will encounter in terms of functionality or reliability.
As far as the specs and details that GM has released on the truck, it’s shaping up to be an impactful model. The Chevy Silverado EV will provide stiff competition for the Ford F-150 Lightning. GM may not have been able to rival Ford’s gas-powered full-size pickup truck, but let’s see how they do against its electric truck.