GM Raises Price Of 2024 Chevy Silverado EV, No Longer $40,000

The Silverado EV’s base price has gone way up.

The first media drives of the 2024 Chevrolet Silverado EV are making their way onto the internet. Yet, on the cusp of those driving impressions, GM has been adamant that the base sub $40,000 base price is now completely dead in the water.

Initially, when the EV Silverado was announced and reservations were opened, Chevrolet advertised a base price of around $39,900 (not including destination fee) for a base, work truck-trimmed vehicle. Now, GM says that the price is definitely not coming. The conglomerate says that over the last 18 months, whilst gearing up for production, economic woes and supply constraints have seriously squeezed the price.

The Silverado EV is first being built and made for fleet customers. The first models to roll out of the Factory Zero in Detroit will be the $79,800 4WT trim, meant for fleets. This dual-motor, AWD truck will have a range of 450 miles, tow up to 10,000 pounds, and have a payload of 1,440 pounds. The lower trimmed 3WT, good for 350 miles, is coming soon – it will start around $74,000, or about $5,000 cheaper than the 4WT. Chevrolet says that lower-trimmed models are coming soon, but given the slight price difference between 3WT and 4WT, we can’t see the most basic trim being anything less than $60,000.

Rising prices on EV trucks unfortunately seem to be the new norm. Rivian cut its base R1T truck trims, and multiple price increases of the F-150 Lightning have seen its base price rise from $39,990 to nearly $60,000.

The consumer-oriented Silverado EV RST First Edition arrives this fall, starting at $106,895.

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