General Motors Unveils Chevrolet Blazer EV: What Investors Need To Know

Legacy Detroit automaker General Motors Company GM has unveiled its latest electric vehicle model that will help the company in a transition to a deeper focus on the EV sector.

What Happened: Chevrolet, a General Motors band, unveiled the 2024 Blazer EV Tuesday. The company said the vehicle will expand its growing electric portfolio and give it more visibility in the midsize electric crossover segment.

The vehicle comes with a different range of options and configurations, including the first SS performance model for a Chevrolet electric vehicle.

Additionally, the vehicle comes with a Police Pursuit Vehicle model aimed at attracting law enforcement orders. 

“The 2024 Blazer EV sets a new tone for electric SUVs, with options and intuitive technologies that help position Chevy for leadership in one of the fastest-growing EV segments,” Chevrolet vice president Scott Bell said.

The new Blazer EV is built on the General Motors Ultium platform.

The vehicle gets an estimated range of 290 miles per full charge and up to 320 miles for the premium range vehicle.

Other features include hands-free start, advanced park assist and the latest charging and infotainment technologies from General Motors.

The vehicle will go on sale in the summer of 2023, with the 2LT and RS models coming first. The SS version will be available later in 2023, Chevrolet said. The PPV fleet model and 1LT will not be available until the first quarter of 2024. Pricing starts at the following:

• 2LT: $47,595
• RS: $51,995
• SS: $65,995
• 1LT: $44,995

Related Link: 4 Analysts Break Down General Motors Q1 Earnings 

Why It’s Important: The General Motors brand now has upcoming launches of electric vehicle versions of popular models like the Silverado, Equinox and Blazer.

“We are making great strides in offering more choices for zero tailpipe-emissions vehicles – choices that make switching to an EV easier than ever,” Bell said.

The launch of the Police Pursuit Vehicle could help General Motors take market share from electric vehicles from Ford Motor Company F and Tesla Inc TSLA, both of which have seen an increase in orders due to cost savings efforts by police departments.

“The possibilities for the Blazer EV’s commercial and law enforcement applications are almost endless,” GM Fleet Vice President Ed Peper said.

GM Price Action: General Motors shares gained 5.49% Tuesday, closing at $34.40, versus a 52-week range of $30.33 to $67.21.

Photo courtesy of Chevrolet.