- Italy targets climate activists in 'anti-Gandhi' demo clampdown
- US trade chief defends tariff hikes when paired with investment
- EU court blocks French ban on vegetable 'steak' labelling
- Meta AI turns pictures into videos with sound
- US dockworkers return to ports after three-day strike
- DR Congo to begin mpox vaccination campaign Saturday in east
- Meta must limit data use for targeted ads: EU court
- Oil extends gains, jobs report lifts Wall Street
- US hiring soars past expectations in sign of resilient market
- As EU targets Chinese cars, European rivals sputter
- Top EU court finds against FIFA in key transfer market ruling
- Oil extends gains, Hong Kong stocks resume rally
- 'A man provides': Ukrainian miners send families away as Russia advances
- EU states greenlight extra tariffs on EVs from China
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- Israel-Hamas war causes 86-percent dive in Gaza GDP: IMF
- Milan's Morata moves house after Inter-fan town mayor 'violates' privacy
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- Oil prices jump, stocks fall on Middle East tensions
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- Oil prices rise, stocks fall on Middle East tensions
- Oil rallies, stocks mostly retreat on Middle East tensions
- Phasing out teen smoking could save 1.2 mn lives: study
- 'Welcome relief': Asia producers hail EU deforestation law delay
- Japan PM slated to announce plans for 'happiness index'
- Turkish inflation falls less than expected in September at 49.4%
- Easing inflation lifts profit at UK supermarket Tesco
- Skiing calls on UN climate science to combat melting future
- China wine industry looks to breed climate resilience
- Tokyo rallies on weak yen, Hong Kong drops after surge
- Dutch airline KLM unveils 'firm' cost-cutting measures
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- Will AI one day win a Nobel Prize?
- Climate change, economics muddy West's drive to curb Chinese EVs
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- TotalEnergies plans to grow oil and gas production until 2030
- 2024 Nobels offer glimmer of hope as global crises mount
- Tokyo rallies on weak yen, Hong Kong reverses after surge
- Tunisia readies for vote as incumbent Saied eyes victory
- High childcare costs in US weigh on women's employment
- US voters seek help with crushing childcare costs
- Taiwan shuts down for second day as Typhoon Krathon to land
GM unveils electric SUV aimed at middle class
General Motors unveiled an electric sport utility vehicle Thursday with a starting price tag of $30,000, positioning the model for consumers priced out of the growing segment.
The 2024 Equinox EV, which will be available in fall 2023 has a starting price of $30,000, less than half the average price of EVs now available in the market.
"We are at a turning point where EVs will be the mainstream choice for the next generation of customers and Equinox EV will lead this charge for us," said GM Chief Executive Mary Barra.
The launch is part of an aggressive EV build-out strategy by the auto giant amid a gradual industry-wide shift towards emission-free vehicles, which includes battery plants and massive investment under its Ultium banner.
"With the flexibility of GM's Ultium Platform, we are bringing to market vehicles at nearly every price point and for every purpose."
The gasoline version of the Equinox was GM's second most popular vehicle in 2021 after the Chevrolet Silverado, a pickup truck.
GM described the model as part of the "compact SUV segment," where it will be "the most affordable EV in its class," the company said in a news release.
However, GM's initial affordable EV offering, the Chevy Bolt, suffered from recalls due to battery problems.
GM had previously disclosed that the Equinox would be intended for middle-income consumers, saying in January the vehicle would start at $30,000 at an event to launch the electric Silverado.
The average price of a new electric vehicles was nearly $67,000, according to a July 2022 Kelly Blue Book estimate.
X.Wong--CPN