When Ford and GM made their big announcements about their electric pickup trucks, they made a bold promise of a $40,000 starting price. Ford came close to fulfilling this promise with the introduction of its F-150 Lightning Pro work truck, which had a starting price of $41,669. However, several price increases have resulted in Ford’s truck now retailing for $61,869, including destination charges. These price fluctuations have been closely observed by GM, and its CEO, Mary Barra, has openly admitted that it is difficult to sell a $40,000 electric vehicle (EV) and still make a profit.
Given these challenges, it’s not surprising that Chevrolet has ruled out a $40,000 entry price for its upcoming electric pickup truck, the Silverado EV. The latest estimate is that the cheapest trim level will start at $50,000, although there is uncertainty about its availability. Instead, the 2024 Silverado EV will initially go on sale this summer with the most expensive variant known as the Work Truck (4WT), which will be exclusively offered to fleet customers. The starting price for the 4WT will be $79,800. Shortly afterward, the Silverado EV 3WT variant will become available, priced at $74,800.
One key distinction between these two variants lies in their battery capacity. The 4WT boasts a larger 200 kWh battery pack, which enables it to achieve an EPA range rating of 450 miles. On the other hand, the 3WT has a smaller battery pack, with an expected range of over 350 miles, and it retails for $74,800, including destination charges. Finally, the Silverado EV RST, which will be the first variant offered to retail customers, is expected to arrive in the fourth quarter with a price tag of $106,895 and a range of 400 miles.
Although the $40,000 Silverado EV is no longer feasible, Chevrolet has promised the introduction of additional variants next year, which will be competitively priced and offer even greater range compared to their competition. Chevrolet aims to undercut the starting price of Ford’s F-150 Lightning Pro, which currently stands at $61,995. Ford’s truck delivers 462 horsepower and is equipped with a 98-kWh battery, providing a range of 240 miles. In addition, Chevrolet has announced the upcoming launch of a Trail Boss version next year.
The Chevrolet Silverado EV employs the same Ultium technology found in the GMC Hummer EV, making it similarly heavy and expensive, particularly in the top-of-the-line RST variant. However, the Silverado EV has one less electric motor and is not designed for absolute performance. Instead, it prioritizes efficiency, which explains how Chevrolet managed to extract an additional 121 miles of range from the same battery pack. Nevertheless, initial driving impressions indicate that it may not be particularly quick, which could pose challenges during highway merges, particularly on inclines.
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