As the growth of EV sales has slowed in recent months, automakers have begun looking at electrified alternatives, many betting that plug-in hybrids will become a “bridge” technology for motorists not quite ready to commit to an EV. But if you think battery-electric vehicles are expensive you may be shocked by what the typical PHEV costs – an average of more than $60,000. Then again, there are a few surprisingly affordable one.
After revising its supply chain, Cadillac once again can offer $7,500 in federal tax credits to buyers of the Lyriq EV. The automaker briefly lost those incentives after the U.S. Treasury updated guidelines under the Inflation Reduction Act on January 1. The news means Caddy gets a critical advantage over a number of competing luxury EVs that have also lost their tax credits this year.
Chevrolet is rapidly ramping up its battery-electric vehicle lineup, with a mix of products soon to include the Chevy Equinox EV. With deliveries slated to begin “in coming months,” the bowtie brand has released range and other information about the all-electric compact crossover. But the Equinox EV won’t be as affordable as had originally been signaled. Get the details at Headlight.News.