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Chevrolet Equinox EV

Chevrolet's New Equinox EV Could Crack Open Mass Adoption

But can it stand up to the Ford Mustang Mach-E? Let's take a look.

  • Chevrolet unveiled its all-new, all-electric Equinox EV last week
  • This model has big potential, with a body style that is more pleasing than the Bolt EUV's and an enticing price point
  • Compared to the Ford Mustang Mach-E, the Equinox EV has less power and space. But it has one big advantage: price

Chevrolet recently revealed the newest member of its growing slate of electric vehicles, the upcoming Equinox EV. Rolling out after the midsize Blazer EV crossover and Silverado EV truck, the 2024 Equinox EV is strategically placed to excel in the small SUV segment. The gas-powered Equinox competes with the likes of Toyota's perennial RAV4 and Honda's steadfast CR-V, but as an all-electric model, this SUV's competitive set is a little murkier.

Even though Chevy says it's the larger Blazer EV that competes against the Ford Mustang Mach-E, we think it's the Equinox EV that poses the biggest threat to the Blue Oval.

Here's why.

Ford Mustang Mach-E

Two EVs, two different audiences

The base model Mach-E comes with rear-wheel drive or all-wheel drive. Both powertrains produce 226 horsepower, though opting for AWD increases torque from 317 lb-ft to 428 lb-ft. More potent models range from 290 hp to 346 hp, and that's before you get to the top-trim GT, which brings 480 hp and 600 lb-ft of torque.

Compare that to the Equinox EV, which is equipped as standard with a single motor with 210 horsepower and 242 lb-ft of torque driving the front wheels. A dual-motor AWD setup is optional, with a more robust 290 horsepower and 346 lb-ft of torque. Clearly, the Mach-E wins the sheer power category, but there's more to these EVs than the size of their motors.

Behind the rear seat of the Mach-E, 29.7 cubic feet of space awaits groceries and gear, expanding to 59.7 cubic feet with the seats lowered. There's also a bonus 4.7-cubic-foot front trunk or "frunk" for more stuff. The Equinox EV brings 57 cubic feet behind the rear seats but has no frunk. The range estimate for an all-wheel-drive Mach-E with the extended-range battery is 270 miles. With a total of 280 miles, the Equinox EV barely gets the edge.

Here's the key point: cost. A base 2023 Mach-E will set you back over $48,000, and Chevrolet says the Equinox EV will start at "about $30,000." Considering the gasoline-powered Equinox (which won't share a platform or anything else with the Equinox EV) is second in Chevy sales only to the Silverado pickup, we have a gut feeling the EV is going to move units as well.

These two EVs will undoubtedly attract different audiences. There's little question that those looking for the magical zip an EV has to offer are going to go for a Mach-E or the Blazer EV (though powertrains haven't been confirmed for all Blazer EV models, we expect output to start around 300 horsepower and top out at 557 hp in the Blazer EV SS) . But if you’re looking for a compact crossover that gets you from point A to point B and don't need a whipcrack powertrain, the handsome Chevy Equinox EV looks to be a really good value.

And that's where the Equinox EV's true strength lies. At the moment, the Mach-E is playing to a few different audiences. One group may see it as a true Tesla Model Y competitor — a near-luxury SUV with gobs of power on tap. Yet for others, it's simply the only everyday electric vehicle that Ford makes, and the price tag might be a high barrier for many. By contrast, the Equinox EV's significantly lower cost gives it a substantial edge for buyers looking for a sensible electric SUV. Don't forget, too, that the Equinox EV's other killer app is its traditional crossover profile — something lacking by the tall-riding Chevrolet Bolt EUV hatchback/SUV thing. With the full support of GM and enough positive buzz when it launches, the Equinox EV could potentially crack open the EV space for mass adoption.

Edmunds says

The 2024 Chevrolet Equinox EV is priced to sell and has the chops to pose a serious challenge to the Ford Mustang Mach-E, even though the latter wins in the horsepower department. The Equinox EV is also a more appealing choice than its stablemate, the Bolt EUV, owing to a more pleasing shape, plus more range, power and cargo space — all for the same price. Prepare for takeoff.