Chevrolet Cancels $40K Entry-Level 2024 Silverado EV!
Chevrolet has recently revealed that they will not be releasing the expected $40,000 entry-level 2024 Chevrolet Silverado EV. While this news may not be entirely unexpected, considering the rising prices in the electric vehicle market, it is disappointing for those who were looking forward to purchasing an affordable Silverado EV.
At the media event where the Silverado EV 4WT work truck was being showcased, Chevrolet representatives shared some disappointing news. However, they did assure everyone that they would be launching more affordable versions of the vehicle, starting from 2024, which would be priced competitively.
The Silverado EV 4WT and 3WT models are currently exclusive to fleet customers and are designed as work trucks. The 4WT has a larger battery and an EPA range rating of 450 miles per charge, while the 3WT's range rating is pending but expected to be around 400 miles. The top trim for retail customers is the Silverado RST, which is expected to have a range rating of approximately 400 miles. Chevrolet plans to release multiple retail versions of the Silverado EV, including a work truck model and a Trail Boss, at various price points.
| Trim | Price |
|---|---|
| Silverado EV 3WT | $74,800 |
| Silverado EV 4WT | $79,800 |
| Silverado RST | $106,895 |
Chevrolet is dedicated to providing a range of choices for the 2024 Chevrolet Silverado EV, starting at $50,000. Additionally, customers residing in states that offer electric vehicle incentives may have the opportunity to combine these incentives with the federal tax credit. This could potentially lower the overall cost of a Silverado EV to less than $40,000, offering a ray of hope.
Chevrolet's potential $50,000 Silverado EV could undercut Ford's cheapest F-150 Lightning Pro by around $10,000. Ford has faced a series of price hikes, with the lowest-priced F-150 Lightning Pro now costing $61,869, including destination charges. This marks a significant increase of $20,200 compared to its original launch price in spring 2022. Furthermore, the base F-150 Lightning Pro comes with a standard range battery pack that the EPA rates at just 240 miles.
Ford, Chevrolet, and Tesla all had to cancel their plans for a $40,000 electric pickup truck. Elon Musk, CEO of Tesla, announced that the base version of the Cybertruck priced at $39,900 would not happen because of inflation.
In case you missed it, Ford has recently ramped up production of the F-150 Lightning to 150,000 units by fall. Additionally, they have made some adjustments to the prices of all the trims available for this vehicle.
