General Motors' (NYSE:GM) Silverado EV will be available in three distinct trims starting from model year 2025 in a bid to offer choice to customers across multiple price points.
What Happened: The 2025 Chevrolet Silverado EV will launch later this year in three trims: Work Truck (WT), LT, and RST variants, the company said on Monday.
While the WT variant will start at $69,495 initially and be available to commercial customers, a cheaper version with the standard range battery pack will join the lineup with a starting price of $57,095 later in the model year, the company said. The standard range WT variant will be available to both fleet and retail customers.
The LT variant, meanwhile, will start at $75,195 and the RST version at $89,395.
The LT trim is available on the Silverado EV for the first time. It is priced within the range to be eligible for a federal EV tax credit and offers 408 miles of range for a full charge. The trim has a 12,500 lb towing capacity and a 1,800 lb payload.
GM In The EV Truck Segment: In the last quarter through the end of September, GM sold 1,995 units of the Silverado EV in the U.S.
GM also has other EV truck offerings including the Sierra EV and the Hummer EV of which it sold 387 and 4,305 units respectively in the last quarter.
The Hummer EV, however, is available as both SUV and truck and it is not known how many units of the truck in particular were sold.
Rising Rivalry: Ford Motor Co. (NYSE:F) has a rival to the Silverado EV in its F-150 Lightning pickup and Tesla Inc. (NASDAQ:TSLA) in its Cybertruck.
Ford sold 7,162 units of the F-150 Lightning in the U.S. in the last quarter. The 2024 model year Lightning's base variant starts at about $63,000.
As for the Cybertruck, it is unclear how many units Tesla sold in the last quarter as the company does not provide a model-wise breakdown of delivery numbers. The foundation series edition of the Cybertruck starts at about $100,000, higher than the premium variants of the Silverado EV and the F-150 Lightning.
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