Chevrolet Just Killed the $40,000 Silverado Electric Truck
Sometimes, it’s all about the numbers. When Chevrolet unveiled the forthcoming 2024 Silverado electric truck, it looked to be the best in terms of styling (notwithstanding those who find the Tesla Cybertruck attractive). Then, the $39,900 starting price of the Silverado EV Work Truck (WT) base model was even more impressive. That was exactly the price point for the Cybertruck until Tesla went dark on speculating.
But now, Chevrolet has announced its updated MSRP for the Silverado EV WT. The starting price is radically higher than stated in the original hype since the electric truck’s reveal in January 2022. In fact, the MSRP has almost doubled. Now, the base price for the Silverado EV 3WT is $74,800.
What’s the difference between the Chevrolet Silverado EV 3WT and 4WT?
The 3WT and 4WT trims are now available to fleet order customers only. The difference between the two is the 4WT has an estimated 450-mile range. Fleet buyers can order it now for $79,800, and it’s EPA-certified.
On the other hand, the 3WT is not being made because it is not EPA-certified yet. Chevrolet’s hope is that once it is, this trim will have a range of around 400 miles. But as we’ve seen with the Bowtie automaker and numbers guessing, that hoped-for range could be much less.
Wait, so you can’t get a Chevrolet Silverado EV 3WT or RST yet?
So right now, the base version of the only available Silverado electric truck is $79,800. And that slick-looking Silverado EV RST will start at $107,895. But it won’t be available until the end of 2023. Chevrolet says the 3WT should be available “soon after the 4WT launch.”
Yes, it’s hard to keep track of the Silverado EV’s availability. And as with the 3WT, the electric RST is not EPA-certified, but Chevrolet, again, is hoping for a 400-mile range. The WT for retail customers and a Trail Boss version are forthcoming. As for the retail WT, Chevrolet says its base price target is $50,000. But the automaker has not officially released pricing yet, so we’ll leave it to you to decide whether you can afford the wait and price.
EV prices keep flying higher
Where the feds and some states offer tax credits for new EV purchases, the hoped-for Silverado EV WT could cost $40,000 after incentives if Chevrolet hits its speculated $50,000 base price. But again…
Now, we know the cost of materials has jumped since January 2022. And supply issues — like a shortage of microchips, rubber for tires, and even foam for seats — have plagued automakers. Those problems also result in higher prices once the shortages end. So some of Chevrolet’s initial pricing speculation was an honest stab, sprinkled with a bit of fairy dust, from where things stood then.
And Chevrolet is not alone. Ford has rapidly increased the F-150 Lightning EV MSRP from a base of $42,000 to $62,000. But it’s disappointing that prices are so high when EVs seem to be really taking off.