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General Motors President Mark Reuss told CNBC Monday that ‘electrified’ and fully-electric Chevrolet Corvette versions will be out as soon as 2023. An electric Corvette has long been rumored, but this is the first official news about the Corvette EV. 2022 and especially 2023 are shaping up to be pivotal years for GM’s electrification strategy, as the automaker looks beyond the Chevy Bolt towards mainstream EVs like the Silverado EV and Chevrolet Equinox EV.
First, GM will debut an electrified Corvette in 2023. This will be either a hybrid Corvette, a plug-in hybrid, or both. News of a hybrid Corvette may perplex Corvette aficionados, however other performance cars have seen much success with hybrid powertrains, including the BMW i8 and the new McLaren Artura.
Electric Corvette Powered By GM’s Ultium Platform
To those accustomed to associating General Motor’s electric vehicles with appliance-looking Chevy Bolts, fear not. The new electric Corvette will be powered by the all-new Ultium battery and electric motor platform. The Ultium platform recently made its production debut in the Cadillac Lyriq luxury crossover, as well as the lavish GMC Hummer EV. GM partnered with LG Chem to engineer the Ultium battery. LG Chem also makes batteries for Tesla, Lucid, Stellantis, and other automakers.
The strengths of the Ultium platform are lowered battery costs, higher energy efficiency, and faster charging. All three of these improvements are going to be central to GM’s fight to compete with both Tesla and Ford in the years to come.
General Motors CEO Mary Barra says that the new Ultium electric platform will unlock battery production at scale for less than $100 per kilowatt-hour. Combined with Ultium’s improved efficiency and ultra-fast charging (at up to 350 kW speeds), GM is banking on their new platform to catch up to Tesla. In fact, the Ultium battery and motor powertrain was chosen by Honda’s engineers to power the upcoming Honda Prologue electric SUV.
Electric Corvette Specs and Performance
For now, General Motors President Mark Reuss is not sharing many details. He did liken the announcement of the Corvette EV to the coming 2023 Corvette Z06, so he’s setting the bar high. Chevrolet shared a 30-second teaser video, and all-wheel drive looks likely. That would put the Corvette EV on par with competing electric sports cars, including Teslas. We’ll be sure to update this page with the latest once more details are announced.
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If you’re in the market for an affordable electric vehicle, you’ve likely already arrived at the realization that ‘affordable’ doesn’t mean cheap in 2022. In fact, our own CarEdge list of the best affordable electric cars features one car (the Tesla Model 3) that now starts just shy of $50,000. Are there any truly cheap electric cars available today? You may be surprised with what we found.
2022 Nissan LEAF
After earlier rumors suggested that the Nissan LEAF was to be discontinued, a Nissan executive recently stated that the LEAF is here to stay. That’s GREAT news for EV affordability.
We must point out that General Motors decided to slash the price of the LEAF’s competitor, the Chevy Bolt, to steal the title of ‘cheapest EV in America.’ More on that below.
Price: Starting at $27,400
Range: 150 to 226 miles, depending on battery size
Charging Speed: Either 50 kW or 100 kW speeds, depending on battery
Tesla is the face of electric cars today, but for years it was the Nissan Leaf at center stage. When Nissan brought the Leaf to market in 2010, it was a short-ranged novelty that somehow began to catch on. With just 73 miles of range on a good day, the first iteration of the Leaf was a bug-eyed appliance good for around town, but not much else.
Over a decade later, and the 2022 Nissan Leaf is a lot better than the first. However, it’s still a budget vehicle, and you get what you pay for. Still, it’s a great entry point into EVs for many. The Leaf now has enough range to make regional travel realistic, but charging speeds have unfortunately remained too slow to make it easy. If you’re eager to get into an electric car for under $30,000, you’ll surely want to check out the 2022 Nissan Leaf.
2023 Chevrolet Bolt EV – The Cheapest Electric Car
2023 Chevrolet Bolt EUV
Price: Starting at $26,595
Range: 259 miles
Charging Speed: 55 kW speeds (adds 100 miles in 30 minutes of charging)
Tax Credit: The Bolt no longer qualifies for the federal EV tax credit, but state incentives may apply
The 2023 Chevy Bolt is the cheapest electric car today. It is available at dealers nationwide, as long as the mandatory recall fixes have been completed. See who has inventory at CarEdge Car Search: Chevrolet Bolt and Bolt EUV
General Motors has sold over 100,000 Chevrolet Bolt EVs since launching the subcompact crossover in 2016. In 2021, the Bolt gained a new sibling: the larger Bolt EUV. Shortly after the Bolt EUV joined the show, several Bolt battery fires spurred a very urgent recall into action. When all was said and done, battery supplier LG Chem was found to be responsible for the Bolt battery fires, and agreed to pay General Motors $2 billion in damages.
Fast forward to 2022, and most Chevrolet Bolt’s (all for sale) have received new battery packs. The Bolt is a GREAT deal now that it’s fixed. If you’re never in a rush on road trips (or just plan to use the car around town), the 2022 Chevrolet Bolt is worth a look. It charges painfully slow, but hey, it is the cheapest electric car today.
If you check out used Bolts, request official documentation showing that all recall work was completed. The Bolt will be eligible for the new EV tax credit here in the United States, but only after 1/1/2023. See our full guide to EV tax credits for more info.
2022 Hyundai Kona EV
Price: Starting at $34,000
Range: 258 miles
Charging Speed: 100 kW speeds (180 miles added in 47 minutes)
The 2022 Hyundai Kona EV is no Tesla, but it has decent range and room to fit most lifestyles. Plus, it’s really cheap AND still qualifies for the $7,500 federal tax credit.
For just $34,000 before incentives, you can become the owner of the original Hyundai EV. This front-wheel drive subcompact crossover gets 258 miles on the charge, exceptional range for a budget EV. Some owners get over 275 miles on a single charge. The Limited trim, top-of-the-line option comes in at $42,500.
If you plug in at home, charging to 100% from a 240-volt dryer outlet will only take you about 9 hours from 10% state of charge. That will get you a full battery overnight while you’re sleeping. At a fast charger, the Kona is behind the competition. In 47 minutes, the Kona Electric charges from 10% to 80% capacity.
The all-new Hyundai IONIQ 5 has stolen the show with more range, MUCH faster charging, and retro looks, but it starts closer to $45,000 with destination and availability is very limited. For those who are willing to give up a few luxuries, the Hyundai Kona EV is a solid choice.
2022 Kia Niro EV
Price: Starting at $39,990
Range: 239 miles
Charging Speed: 100 kW at a DC fast charger (adds 100 miles of range in about 30 minutes)
The Kia Niro electric version is the sibling to the aforementioned Hyundai Kona EV. Both source their power from a 64 kilowatt-hour battery, which is a tad smaller than more expensive electric cars. The Niro EV can charge at up to 100 kilowatt speeds at a fast charger. At least that’s better than the Nissan LEAF and Chevy Bolt.
The Niro EV’s back seat is slightly more spacious than the Kona’s, so it’s more popular with families and those with large pets. There’s also a plug-in hybrid version. For just a few thousand dollars more, keep in mind that you could check out the base trims of the newer Kia EV6, Hyundai IONIQ 5 and Volkswagen ID.4.
2022 Mini Cooper SE Hardtop Electric
Price: $30,750
Range: 114 miles
Charging Speed: 50 kW speeds (about 90 miles of range in 36 minutes)
For just over $30,000, you can own an electric Mini. It’s practically a luxury golf cart! Jokes aside, it’s not a bad deal IF you don’t plan to go very far. With 114 miles of EPA-rated range, it’s a zippy way to scoot around town.
Why didn’t I include Mazda’s first fully-electric vehicle on this list? It’s a brand-new model, yet it only gets 100 miles of range on a charge. That, and the fact that it is only sold in California as a regulatory compliance vehicle for now. Come on, Mazda! That’s not enough range to safely make it across Los Angeles!
CarEdge’s Take
An electric car under $35,000? Sounds like science fiction, but as you can see, a few can be had for what used to be considered average car prices. Most of these cheap electric cars don’t have the best range, the fastest charging or the need for speed, but they won’t drain the bank like a Tesla will. Let me know which cheap EVs you’re checking out in 2022.
Some parting advice: consider all options, and test drive as many electric vehicles as you can. You’ll be amazed at what’s out there, and even more amazed at what’s to come.
Electric trucks are few and far between on highways, but they’re all the rage online. There are fewer than 3,000 electric trucks on the road today, but at least 1.5 million reservations are in the books for upcoming electric truck models. Will trucks ever catch up to crossovers in the electrification of the auto industry? With how many models are in the development pipeline, it will be interesting to find out. Let’s take a look at every electric truck on the way, and the few you might catch a glimpse of in 2022.
Rivian R1T
Introduced: Late 2021
Range: 314 miles
Fuel economy: 71 MPGe
Cost to charge 0 – 100% at home: $19
Price: $78,975 – $121,690
“It’s bigger than a Ford Ranger, smaller than a F-150, and a whole lot more expensive.”
The 2022 Rivian R1T is the most common electric truck on the road today, but that doesn’t mean it will be easy to find one. About 2,000 have been sold as of spring 2022. As is often the case, supply shortages (and inflation) have put a damper on the much-anticipated rollout of Rivian’s first model.
Nevertheless, it’s a very capable truck. The R1T can tow more than 11,000 pounds and the pickup offers a payload capacity of 1760 pounds. And it’s fast, with a 0-60 time of 3.3 seconds. It’s a rugged, outdoorsy-themed truck for those who use their pickup for more play than work. If you’re in the market for one, get in line. If you’re lucky (and have a deep wallet), you just might take delivery of one by the end of 2023. Rivian prices recently jumped by $10,000 – $20,000, so don’t expect a Rivian for the original price of $69,000.
GMC Hummer EV
Introduced: Late 2021
Range: 329 miles
Fuel economy: 47 MPGe
Cost to charge 0 – 100% at home: $30
Price: $80,000 – $110,000+
“American excess at its finest….. and least efficient.”
If you would like a 9,000-pound, crab-walking mammoth of a truck that can seemingly overcome physics to reach 60 miles per hour in three seconds, General Motors has you covered. The revived Hummer is a large luxury truck meant to turn heads more than it’s meant to haul stuff to the worksite.
The Hummer EV’s #1 party trick is the crab-walk. That’s when the truck turns using all four weeks, allowing it to slide through traffic. The EPA-rated range of 329 miles is a bit misleading. It has a MASSIVE 212 kilowatt-hour battery. That’s triple the capacity of most electric crossovers! While technically it starts around $80,000, used ones are already selling for a quarter of a million dollars.
Ford F-150 Lightning
Introduced: Late 2022
Range: 230 – 300 miles
Fuel economy: 68 MPGe
Cost to charge 0 – 100% at home: $14 – $20
Price: $39,974 – $90,874
“This will be the first mass-produced electric truck on the market, but we’re bracing for the dealer markups.”
We recently detailed all we know about the upcoming electric F-150 in a special CarEdge preview. It turns out that truck fans are REALLY looking forward to the Lightning. The question remains, can Ford make enough of them?
Here’s What Stands Out With the F-150 Lightning:
It’s the most powerful F-150 ever
You can power tools, other EVs and even your entire home with the truck
The Lightning looks normal, but features state-of-the-art technology
The front trunk is bigger than most regular trunks
Up to 320 miles of range, but mediocre charging speeds
Ford has 200,000 reservations in the books for the F-150 Lightning, so new orders can expect a 2024 delivery. If you’re patient, this just might be worth the wait.
Range: Up to 400 miles (depending on battery size/trim)
Cost to charge 0 – 100% at home: $28
Price: $39,900 – $80,000+
“It’s the direct competitor to the F-150 Lightning, but it will charge a LOT faster.”
When Ford made such a big deal with the unveiling of the F-150 Lightning, we all knew General Motors would be cooking up something special. The Chevrolet Silverado EV was unveiled at last, and the specs and looks have exceeded expectations. Chevy claims it has faster charging, more power, and more range than the Ford.
It’s a flexible truck too, and one that’s definitely going to see some worksite use. The storage capacity of the 5-foot-11-inch bed can be extended to 9 feet with the ’available’ Multi-Flex Midgate.
GM says that the new Silverado is basically a rolling generator, if you buy the required accessories. “When combined with the available accessory power bar, the Silverado EV’s PowerBase charging system offers up to 10 outlets, to provide a total of 10.2kW of all-electric power for countless worksite or recreational needs, including powering your home, with the required equipment.” It can even charge other electric vehicles!
Ever since Tesla pulled the curtains back in November 2019, the world has divided into two camps: those who adore the Cybertruck’s angular, Mars-ready looks, and those who abhor it. No matter what your opinion is, it’s still just an idea for now. Tesla has repeatedly pushed back its arrival, and now says that 2023 will be the start of production.
The Cybertruck will have 3,500 pounds of payload capacity, and can tow 14,000 pounds. Those specs are on another level for sure. It’s also a performance-oriented truck, with a 0-60 time of 2.9 seconds. Pricing had previously been announced to start at $40,000 for rear-wheel drive base variants, but that was later removed from the Tesla website. We expect pricing to range from $55,000 to over $80,000, but it’s pure speculation at this point.
Toyota’s Electric Truck
In late 2021, Toyota teased the above image of an electric truck. It closely resembles an electric Tacoma, which would be a dream come true for many Toyota fans. They haven’t said a word since, but we’ll update you with the latest once we know more.
Ram 1500 Electric Truck
Stellantis has taken its sweet time getting into EVs. In 2024, the Ram 1500 electric truck will make a debut with a range of up to 500 miles and futuristic design cues. It will be capable of fast-charging, a quick 0-60 time, andthe latest tech from Stellantis.
The electric Ram 1500 will be built on the new STLA platform that is currently in development. More to come.
GMC Sierra Electric Truck
They say it’s coming, but we don’t know much yet. The electric Sierra will share the same powertrain engineering as the Silverado EV.
“Like the GMC Hummer EV, the electric Sierra will be purposefully built on the Ultium Platform with the premium materials and capability customers have come to expect from GMC trucks,” says GMC.
Canoo
The Canoo ‘Pickup Truck’ has more in common with the Tesla Cybertruck that one might suspect. It’s weird-looking, has space-age ambitions, and has been repeatedly delayed. Canoo has undergone multiple leadership shakeups, and that has delayed the launch of Canoo’s first products by a few years (and counting).
The Canoo truck has a targeted payload capacity of 1,800 pounds, a 6’ 8” bed when extended, and about 500 horsepower. At least 200 miles of range are to be expected on a charge. Hopefully it turns out to be at least 250 miles considering the competition.
As odd and mysterious as the Canoo Pickup Truck is for now, the EV startup already scored a significant contract, at least symbolically. NASA selected Canoo to transport astronauts to the upcoming Artemis spaceships for missions to the moon in 2025.
With a bit of luck, the Canoo truck just might be available to reservation holders in 2023. Learn more about Canoo here.
My very own Hyundai IONIQ 5 has a special trick up its sleeve. In fact, even Tesla can’t claim it. In 2022, very few electric cars are engineered with 800-volt architecture. While still an outlier, all signs point towards an auto industry heading in the direction of faster charging, better efficiency, and smaller battery sizes – all of which are unlocked by promising 800-volt electrical systems in EVs.
800-Volt Electric Powertrains Bring Faster Charging and Engineering Benefits
The mass adoption of electric vehicles largely depends on the ability to find real solutions for a few ownership challenges for today’s EV drivers:
Charging is too slow
Range is not enough
Batteries are too expensive to replace
Most electric vehicles in 2022 are built on 400-volt systems, but these systems have limits. Indeed, some automakers are quite happy with their 400-volt EV platforms. Tesla manages to find other ways of mastering efficiency and power delivery, and has not mentioned plans for a voltage upgrade. One BMW senior engineer called settling with a 400-volt platform the “best compromise”, but not everyone agrees.
800-volt systems can deliver double the power through the same current, or if desired, the same power through half the current. The result is roughly 50% faster charging for the same battery size. As a result, batteries can be made smaller and overall weight is reduced, increasing efficiency and ideally lowering the cost of the vehicle.
Would a car need a massive battery with a 500-mile range if it can charge a smaller battery that’s good for 250 miles in just 15 minutes? What is that smaller battery was A LOT cheaper?
Which Electric Vehicles Use 800-Volt Architecture?
In 2022, just a few electric vehicles use 800-volt systems for power delivery and charging.
Of particular interest is the different paths taken by Ford and GM for their upcoming electric trucks. The F-150 Lightning is built on 400-volt architecture, while the Chevrolet Silverado EV is jumping to 800-volt architecture, and the result is much faster charging speeds for the Chevy. Will this matter to consumers, or will brand loyalty win out?
Why doesn’t Tesla use 800-volt charging? We’re not sure, but clearly they’ve found success with their existing 400-volt architecture.
Solid-State Batteries Approach Production
Fortunately, a whole host of solutions are uniting to offer a better way forward for EVs. And it’s not all about charging speeds. Solid-state batteries are finally approaching real-world usability following decades of research and development. For the better part of the last decade, $100 per kilowatt-hour was the affordability target for battery development. That goal was reached, but the latest raw material shortages are sending prices back up, and electric car prices have gone up accordingly. The U.S. Department of Energy thinks that $60 per kilowatt-hour is within reach, however it’s increasingly looking like solid-state batteries may offer the only path to such low-cost batteries.
Toyota says it will be the first to bring a solid-state battery into a production vehicle. In typical Toyota fashion, their solid-state battery will debut in a hybrid powertrain rather than a full battery-electric vehicle. It looks like the world will see what solid-state battery chemistry is capable of in 2025.
Innovation Continues at Lightning Speed
Faster charging, better range, and (hopefully) lower prices are promised time and time again with every new EV model announcement. 800-volt architecture and solid-state batteries are the headlining developments that automakers are working on behind the scenes. We didn’t even touch on new battery chemistries, manufacturing methods, and electric motor breakthroughs in the works. We’ll have to save that for another day, as there’s always something new to talk about in the EV space.
But the promise of faster charging and energy-dense batteries begs the question: would you take faster charging over more range? It’s looking like that will be the EV debate of the decade. What are your thoughts? Let us know in a comment or over at the CarEdge Community Forum. What matters most when you head out on a journey?
Trucks are somehow an appreciating asset in 2022. Not a single truck is getting more affordable. With inflation, supply shortages, and transportation backlogs, truck inventory remains at record lows in the US. Here’s just how much truck prices have increased in 2022.
Be sure to bookmark this page and check back for updates!
May 2022 Truck Price Increases
Chevrolet Silverado HD
The 2022 model year Chevrolet Silverado HD has seen FOUR price increases since going on sale last year. GM Authority details the latest Silverado price increases:
“The latest price increase for the 2022 Chevy Silverado HD is a flat $1,000 for all trim levels and configurations, including both the 2022 Chevy Silverado 2500HD, and the 2022 Chevy Silverado 3500HD. The Destination Freight Charge also increased from $1,695 to $1,795. As it stands now, the least-expensive 2022 Chevy Silverado HD model is the Silverado 2500HD WT Regular Cab / Long Bed with 2WD and the 6.6L V8 L8T gasoline engine, priced at $41,295, while the most-expensive model is the Silverado 3500HD High Country Crew Cab / Long Bed DRW with 4WD and the 6.6LV8 L5P turbodiesel Duramax engine, priced at $81,345.”
See how much every variant of the Silverado 2500 and 3500 HD costs now here.
Rivian R1T
Just a few months after the first deliveries crawled out of Rivian’s factory in Normal, Illinois, the electric truck maker fumbled a sudden price increase. All trims of the Rivian R1T saw prices increase, and some specs are up by 20%. The most ‘affordable’ R1T, originally $67,500, now costs $79,500. The catch is that the base spec of the R1T is not even close to being available. Rivian produced 2,500 electric trucks in the first quarter of the year, and delivered 1,200 of them.
All R1Ts being delivered in 2022 are the quad-motor Adventure package with the large battery pack. If you’re lucky enough to take delivery this year, this R1T configuration costs $85,000.
This is Rivian’s delivery timeline as of Spring 2022:
Is there any such thing as an affordable truck any more? Affordability is in the eye of the beholder, however the last few months have raised the bar even further. Here’s the latest data on truck MSRPs for base trims:
The best-selling truck in America, the Ford F-150, has seen a 2.6% increase in base MSRP since December 2021. The F-150 now starts at $29,990. The only truck to fare better (for the consumer) is the Toyota Tacoma, which has gone up 2.1% to a current MSRP of $26,700.
On the other end of the spectrum, General Motors has sent truck prices through the roof. Four months ago, a 2021 Silverado 1500 started at $29,300. A few price hikes later, the base 2022 Silverado now costs $33,800 before destination fees. That’s a staggering 15% price jump in a few short months.
GM’s massive price increases for the 2022 Silverado are especially shocking considering that GM posted record profits in 2021, despite selling 500,000 fewer vehicles than the year before.
The 2022 Nissan Titan now has a base MSRP of $38,310, up 4.8% since late last year. The Ram 1500 has seen a similar price hike, now listing for $33,975 at a minimum. Good luck finding one for MSRP.
Luxury And High-End Trucks See The Biggest Price Hikes
If you thought the base models were bad, wait until you see how expensive fully-loaded trucks have gotten. Check out the data for yourself:
Yes, a 2022 Ford F-150 Raptor now starts at $68,675 (over $70,000 after taxes and fees) after Ford bumped the price by 7% this year. That almost makes the F-150 Lariat look like a steal at $48,140. It’s actually Ram that takes the trophy for biggest MSRP jump in 2022. Following a 9.1% price increase, the Ram 1500 TRX now starts at $76,780. The GMC Sierra AT4X has seen the smallest price increase, but it’s still an expensive truck at an MSRP $77,395.
Are There Any Affordable Trucks?
The short answer is no. If you’re looking to buy new, you’ll have to find a Ford Maverick, Ford Ranger, Hyundai Santa Cruz or maybe even a Tacoma at MSRP (somehow) to stay around $25,000 for a new truck. Most are far beyond $35,000 once all fees are tallied.
Bear in mind that we’re talking about MSRPs here. These are merely suggestions by the manufacturer. You know as well as I do that buying any popular vehicle at sticker price in 2022 is like finding a pot of gold at the end of the rainbow. It’s technically possible, but quite rare. And no one will believe you.
Dealer markups are one of the many novel trends of the past few pandemic years that no one’s excited about. Except for dealers of course. Jalopnik reported on six-figure Ram TRXs and Ford Mavericks going for fifty grand.
Dealers are raking in the profits every time a shopper agrees to pay over MSRP for any truck. Don’t believe me? American dealerships reported all-time record profits in 2021. You know, the year with the worst inventory shortages ever. As one dealer told me, they’re just ‘dying for inventory’. Approach dealerships with caution, truck buyers.
CarEdge Car Search Now Shows In-Transit Status!
In 2022 (and beyond), many car buyers will be shopping for vehicles that are still sailing the high seas or catching a lift from the plant to the dealership. How do you know which vehicles are in transit and which are on the lot? CarEdge’s Car Search is the only car buying search engine that shows you if a particular vehicle is in transit. Try it out for yourself!
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