General Motors Co. will offer electric versions of the Chevrolet Equinox and Chevrolet Blazer, CEO Mary Barra said Wednesday in a virtual address from Detroit’s Fox Theatre during the Consumer Electronics Show.
Both vehicles, based off of GM’s new Ultium electric platform, were discussed the same day Barra revealed the new $105,000 first-edition electric 2024 Chevrolet Silverado RST coming in 2023.
The Equinox will have a starting price around $30,000. GM did not reveal the Blazer’s cost. Both will be available in 2023.
GM used the CES platform to make several announcements about its electric and autonomous future and Wall Street took notice. GM’s stock rose 7% ahead of the event.
“This is not your grandfather’s GM,” Wedbush Securities analyst Dan Ives said. “We believe the GM EV transformation story heading into 2022 is slowly starting to get recognized by the Street as we believe an EV driven re-rating is now in process.
“With the Tesla trillion dollar+ valuation and growing EV appetite among investors for new innovative EV stories, the vertical integration capabilities of GM and conversion of its massive customer base to electric vehicles over the coming years represents a transformational opportunity for GM looking ahead.”
The electric Silverado is scheduled to launch a year after Ford Motor Co. launches its electric F-150 Lightning and will not be available until fall 2023.
At launch, the Silverado EV, built at Factory Zero Detroit-Hamtramck Assembly Center, will be available in two configurations: an RST First Edition and a WT model intended to be a work truck for commercial fleet customers. The Silverado EV will offer a GM-estimated 400-mile range on a full charge.
The big-battery, 400-mile Work Truck (price yet to be announced) aims to help corporate fleets satisfy ESG (environmental, social, and governance) demands of green investors by outfitting their fleets with zero-emission vehicles.
Also at CES, GM’s BrightDrop subsidiary focused on electric delivery vehicles announced Walmart Inc. has signed on to reserve 5,000 electric delivery vans and FedEx Corp. has expanded its order.
On the autonomous side, GM’s self-driving technology Super Cruise remains on track to be offered on 22 models by 2023, the automaker said. The enhanced Ultra Cruise self-driving technology, which will enable door-to-door hands free driving, enters production next year, with the Ultium-based Cadillac Celestiq ultra-luxury sedan among the first equipped with the technology.
GM’s Cadillac brand also revealed two new concept autonomous vehicles at CES: the InnerSpace and OpenSpace.
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