2024 Chevy Silverado EV Won’t Start at $40K After All

The biggest change to the pricing structure is the base model has jumped up to the $50,000 range. "Customers will have the ability to content the truck across various price ranges, with MSRPs starting from $50,000, $60,000, $70,000, $80,000 and more," reads Chevrolet's press release.

The problem in part lies with the current state of the economy. Inflation has been high across the world. The sums that worked out when Chevrolet announced the $40,000 truck in early 2022 are no longer looking as peachy. 18 months is now a long time when it comes to automotive pricing. To keep the business case solid for the Silverado EV, it appears the automaker has had to bump the figures.

It's disappointing for customers, but perhaps unsurprising given what has been happening across the market. We've already seen other EV trucks add significant price hikes in recent times. The Ford F-150 Lightning is now over $20,000 more expensive compared to its initial pricing. Similarly, Rivian raised prices significantly last year, putting many pre-order holders offside.

As a guide, when The Drive's Nico DeMattia drove the Silverado EV, he was behind the wheel of a 4WT model. With a 450-mile range on a full charge and 510 horsepower on tap, that highly-optioned premium truck was quoted at a price of $79,800. The work-oriented 4WT will be the first available launch spec, with the 3WT soon to follow with a shorter 350-mile range.

Fall will see the juicy RST First Edition models drop with 400 miles of range and an MSRP of $105,000 before dealer freight charges. The plum high-end trim will offer 664 horsepower and a 10,000-pound tow rating.