Chevrolet Silverado EV Cancelled at $40K

Big Disappointment: Unsurprising Yet Impactful

Chevrolet declared today with disappointment that the $40,000 Chevrolet Silverado electric-powered vehicle will no longer be attainable.

No great shock, really, considering the strength of pricing hikes over recent three years across the overall electric vehicle sector. Nevertheless, news there can no longer be a reasonable, base-model Silverado EV up for reservation is unquestionably disheartening.

At the media first-drive event for the Silverado EV 4WT work truck, Chevrolet representatives delivered the unfortunate news, but they did assure us that they would be providing lower-trim “competitively-priced” variants of the vehicle beginning in 2024.

We now have access to the cost details regarding the primary three models of the Silverado EV, all of which will arrive in 2023:

Both the Silverado EV 4WT and 3WT are labour trucks, only available for commercial entities. The distinction between them lies in the 4WT possessing a larger electricity storage cell along with an EPA gauged scope of 450 miles per battery cycle. As of now, the EPA has not given approval for the 3WT, yet Chevrolet reps anticipate that it will have an acreage approximating 400 miles.

The Silverado RST stands out as the premier trim for the Silverado EV and is available to be booked by retail clients. Chevrolet expects the variation of the vehicle to receive an EPA range rating of near 400 miles. Furthermore, there are going to be a selection of retail-client options of the Silverado EV to opt from, featuring a work truck model and a Trail Boss with a spectrum of price points.

Chevrolet pledges that there is an extensive array of Silverado EVs to pick from with pricing beginning at $50,000. Furthermore, in areas that boast electric vehicle promotional offerings, once united with the federal tax deduction, it might actually result in the final cost of acquiring a Silverado Electric Vehicle being diminished to under $40,000 – there is still some optimism!

If Chevy can hit its target of a $50,000 Silverado EV, it could offer a substantial price break to buyers as opposed to the F-150 Lightning Pro. This would be a considerable margin for customers seeking electric pickup trucks. If Chevrolet is successful in delivering their anticipated $50,000 Silverado EV, it would significantly undercut Ford’s least expensive F-150 Lightning Pro model by around $10,000. Seeing that the F-150 Lightning Pro has had consistent jumps in pricing (totaling to $61,869 including destination charges), the Chevy Silverado could present an appealing option for those looking for an electric pickup truck. Such a notable difference in cost could prove advantageous for buyers.

That’s an astounding $20,200 more than the initial price tag of $41,669 it came with when it was first on the market back in spring 2022. Furthermore, the car includes only a regular range battery pack, which has been identified by the Environmental Protection Agency as able to reach just 240 miles.

It is not only Ford and Chevrolet who have axed the $40,000 electric pickup truck after proclaiming they would bring it to market. Tesla too had originally forecast that their base Cybertruck could be purchased for $39,900. Nonetheless, we uncovered last summer from Elon Musk, Tesla’s CEO, that due to inflation, the $40K Cybertruck was not meant to be.

I conjecture that in a post-pandemic society with continued supply chain difficulties, deficits in lithium processing, and high cost of living, a $40,000 electric pickup truck is something we must accept not having.