Chevrolet announced today that it will not be offering an affordable, entry-level $40,000 Chevrolet Silverado EV after all.

Chevrolet officials delivered the bad news at the media first drive event for the Silverado EV 4WT work truck, but promised to offer "competitively priced" lower trim variants of the vehicle starting in 2024.

For now, pricing is known for the first three versions of the Silverado EV, all of which will be available in 2023. According to InsideEVs:

  • Silverado EV 4WT - $79,800 - Already in production
  • Silverado EV 3WT - $74,800 - Available soon after the 4WT launch
  • Silverado RST - $106,895 - Available in the Fall

Both the Silverado EV 4WT and 3WT are work trucks and are only available for fleet customers. The main difference between the two is the 4WT has a larger battery and an EPA range rating of 450 miles per charge. The 3WT hasn't been EPA-certified yet, but Chevrolet representatives are hopeful it will have a rating close to 400 miles.

The Silverado RST is the top-of-the-line trim for the Silverado EV and is available to reserve by retail customers and is expected to have an EPA range rating of approximately 400 miles. Chevrolet plans to release a number of different retail-consumer versions of the Silverado EV, including a work truck model and a Trail Boss at a variety of different price points. 

Chevrolet promises that there will be Silverado EV options with various levels of content starting from $50,000. Additionally, if the purchase is in a state that has electric vehicle incentives, combining those with the federal tax credit could actually bring the final cost of a Silverado EV under $40,000 - so there is still hope.

If Chevy can deliver on the $50,000 Silverado EV it says it will, that will undercut Ford's lowest price for the F-150 Lightning Pro by roughly $10,000.After a seemingly endless series of price increases by Ford, the least expensive version of the F-150 Lightning Pro now costs $61,869 (including destination.)

That's a remarkable $20,200 more than the $41,669 the same vehicle cost when it originally launched in the spring of 2022. Plus, that vehicle has the standard range battery pack, which is EPA-rated at only 240 miles.

Tags: Chevrolet
Евгений Ушаков
Evgenii Ushakov
15 years driving