Now, the companies are zeroing in at the heart of the U.S. auto market: The compact SUV. In their drive to have EVs dominate vehicle sales in coming years, the automakers are promoting their new models as having the range, price and features to rival their gas-powered competitors.
Some are so far proving quite popular. Ford’s $45,000-plus Mustang Mach E is sold out for the model year. On Monday night, General Motors’ Chevrolet brand introduced an electric version of its Blazer, also starting around $45,000, when it goes on sale next summer.
Also coming next year: An electric Chevy Equinox, with a base price of about $30,000, whose price could give it particular appeal with modest-income households. There’s also the Hyundai Ioniq 5 and Volkswagen’s ID.4 in the $40,000s and Nissan’s upcoming Ariya around $47,000 with a lower-priced version coming.
All start off considerably less expensive than Tesla’s Model Y small SUV, the current top EV seller, with a starting price well into the $60,000s.
The new models, which can get about 300 miles per electric charge, are aimed at the largest segment of the U.S. market: Modest-size SUVs, representing about 20% of new-vehicle sales. Industry experts say entering the smaller SUV segment, with its reach into a broader demographic of buyers, is sure to boost electric vehicle sales nationally.
“Going to the smaller utility segment gives you the opportunity to access the most customers in one (market) segment,” said Stephanie Brinley, principal analyst for S&P Global Mobility. “To make a transition from (internal combustion engines) to electric, you have to be in more space. You have to be in more price points. You have to be in more sizes.”
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