GM’s (GM) Chevrolet finally offered up more details on pricing for its upcoming Equinox EV — and it will indeed target the lower end of the market, which has had very few offerings.

In the fall GM said the entry-level Equinox EV would sell for about $35,000; now Chevrolet has confirmed that dealer ordering is expected to start soon and the entry-level Equinox EV in 1LT FWD (front wheel drive) trim will start at $34,995, with availability in the fall. Destination fees tack on an additional $1,395, however.

GM also said it expects the Equinox EV to have an EPA-estimated 319 miles of range (FWD), which is a considerable figure when compared to other cheaper EV offerings like the Nissan Leaf (212 miles) and Chevy’s other stablemate, the now discontinued Bolt (259 miles).

Full trim levels and pricing for the Equinox EV will be as follows, not including destination charges:

• 1LT FWD starting at $34,995 (available later in 2024)

• 2LT FWD starting at $43,295

• 2RS FWD starting at $44,795

• 3LT FWD starting at $45,295

• 3RS FWD starting at $46,795

The fully loaded 3RS is priced at a reasonable $46,800. But it’s the base model starting at below $35k that’s very compelling in a market with slim offerings in the entry-level EV space. Plus, GM has confirmed that the Equinox EV does qualify for the federal EV tax credit of $7,500, meaning it could be had for as little as $27,495, not including destination, and with the possibility of layering on additional state EV tax incentives.

The big question: How much money will GM make (or not make) on the Equinox? GM has said it intends to achieve low-single-digit profitability (EBIT EV margin) in 2025 and that leveraging its Ultium battery platform across all its EV models will help lower costs.

GM is also pursuing a different strategy than its rival Ford (F). GM intends to offer EVs in the entry-level, midsize, truck, and luxury crossover and SUV product categories. Ford CEO Jim Farley revealed, following the company's latest earnings report, that it intends to only pursue the lower end of the EV market, with a cheaper second-generation EV, and the higher end with trucks and full-size vans. That means it will abandon the middle of the market.

Tesla is also aiming to have a cheaper next-generation offering, reportedly targeting a $27,000 entry-level EV, that will debut in 2025.

Pras Subramanian is a reporter for Yahoo Finance. You can follow him on Twitter and on Instagram.

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