General Motors (GM) Announces EV Blazer and Equinox Along Side EV Silverado

General Motors (NYSE: GM) announced electric versions of the automaker’s Chevy Equinox and Blazer SUVs, both of which will be available in 2023. The announcement came during CEO Mary Barra’s keynote address for the 2022 Consumer Electronics Show, at which the company also revealed its electric Chevy Silverado pickup truck.

"This is not your grandfather's GM," Wedbush Securities analyst Dan Ives wrote in a note Tuesday. "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.”

The arrival of the Equinox EV and Blazer EV places Chevy at the forefront of GM’s $35 billion push to electrify its lineup by 2040. The company is also producing the Chevy Bolt EV and EUV, the Hummer EV pickup and SUV, the GMC Sierra EV, and the Cadillac Lyriq and Celestiq.

Most EVs on the market today are more expensive than their gas equivalents. GM is hoping that a more affordable EV with a recognizable name, such as the Equinox, could help spur a faster switch to electric. The electric Chevy Equinox will retail for a suggested price of $30,000. Both SUVs will hit dealers in 2023.

"The Equinox has always played an important role for Chevrolet as the second-highest selling brand nameplate," said Steve Hill, Chevrolet vice president. "Providing an affordable EV option in the industry's highest volume segment proves Chevy is going to make EVs available to everyone."

By Michael Elkins | [email protected]

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