On April 8th, 2021, General Motors confirmed that it will be introducing an electric version of its most popular vehicle, the Chevy Silverado pickup truck. Investors reacted positively as GM stock hit a new high of $63.44 per share on the following day.
Customer reaction will likely be more varied, but there are sure to be people who would like to buy the (yet un-named) electric Chevy Silverado. Assuming a sufficient supply of charging points, the advantages will include lower maintenance costs (because an EV has fewer parts than an ICE vehicle) and cheaper energy costs (electricity vs. gasoline or diesel fuel).
However, this has to be balanced against a purchase price which will almost certainly be higher than the $29,300 starting MSRP of the 2021 Chevy Silverado 1500, unless Chevrolet decides to make a loss on every electric version it builds for several years. Even then, the loss can’t be too great, otherwise the project would simply be unsustainable.
Beyond all doubt, an electric Chevy would have to be cheaper than the upcoming GMC Hummer EV. The range-topping model Edition 1 of the Hummer EV pickup will be priced to start at $112,595 when it goes on sale in the fall of this year. That pricing won’t fly in the case of a truck from what has traditionally been positioned as a value brand. The Hummer EV pickup and SUV will both cost $79,995 in the base EV2 trim level, and even that is way above the roughly $60,000 starting price of the range-topping 2021 Chevy Silverado 1500, though maybe people will be prepared to pay that given that it’s an EV.
We can continue speculating like this for hours, but rather than do that, we’ll instead throw it open to GM Authority readers: how much would you be prepared to spend on an electric Chevy Silverado? Vote in the poll just below and sound oof your opinion in the comments section. And be sure to subscribe to GM Authority during the electric revolution for more Chevy Silverado news, Chevrolet news and high-voltage GM news coverage.