Know The Difference Minute

If electric vehicles are to reach mass-adoption they need to be affordable enough and have a range that makes sense.

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The EV kickstart?
Welcome to the Know the Difference Minute for Thursday, September 8th.
$30,000. 300 miles. If electric vehicles are to reach mass-adoption, those are the numbers. Affordable enough and with a range that makes sense.
GM wants to overtake Tesla by the middle of this decade and thinks the new Equinox EV small SUV will help. Announced today, it’s $30,000 with a range up to 300 miles. Only the Chevy Bolt and the Nissan Leaf are cheaper.
20% of new US vehicles sold are small SUV’s. The Equinox costs about the same as Toyota’s RAV4, the country’s bestselling vehicle that isn’t a pickup.
The battery is the speedbump. Commodities are in short supply and demand is increasing. It’s years away from qualifying for the Federal Tax credit. No doubt, higher costs will raise the price and move this vehicle out of the sweet spot.
I’m Deanne Phillips from Annex Wealth Management. That is your Know the Difference Minute.