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Blazer EV ‘has a lot to offer and then some,’ Global Chevrolet VP says

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Global Chevrolet Vice President Scott Bell joins Yahoo Finance Live to break down the automobile manufacturer’s 2024 Blazer EV, the consumer demand for EVs, and the outlook for the EV space.

Video Transcript

- Competition in the EV space has been heating up. Chevrolet is revealing now its all electric 2024 Blazer EV. The lineup offers a range of options for consumers as more Americans make a shift in that direction and say they are planning to make more of a shift. We'll see if that comes to fruition.

For more on all of this, we have Scott Bell, Global Chevrolet Vice President, as well as Yahoo Finance's Pras Subramanian, who covers autos for us. Scott, thanks for being here. So what do you want consumers to know about this Blazer EV? And what do you think is really the proposition here about what makes it different and what is going to make it competitive in what is an increasingly competitive EV market?

SCOTT BELL: Yeah, well good morning. Thanks for having me. I look we're excited about the EV. The styling speaks for itself, I think. It's been well received since we've revealed it here just a few hours ago yesterday. We got a lot of options, so everything from a base model to a Super Sport, SS. The first time we've put that moniker on a vehicle. The performance 0 to 60 in under four seconds. So very worthy of that.

Great range, all the way up to 320 miles. Great technology, so this vehicle has a lot to offer and then some. So we're very excited to get it into the marketplace here next year.

Hey Scott, Pras here. So the Blazer's here. It's good to see it but it comes about a year after the Ford Mach-E has already been out for sales in the showrooms and also a couple of years after the Model Y. What do you think the Blazer has to offer that can sort of compensate and kind of take away that first mover advantage that Ford and Tesla already have?

SCOTT BELL: Yeah, to get to mass adoption here, which we talked about a second ago, we are seeing that increasing greatly. So the consumer is starting to lean in much greater in the EV space than they ever have. I think they're looking for brands that they can trust. So Chevrolet is certainly there. They're looking for capability, a vehicle that's truly built as an EV.

So we've been working on our Ultium platform here for a few years. We've rolled out a few vehicles at General Motors already with that. This will be kind of our first mainstream, very attainable, in one of the largest segments in the industry. So we're feeling we're coming in at the marketplace at the right time as we see the consumer demand continue to grow.

- Hey, Scott, Brad here. When we think about any of the margins that come from electric vehicles that are produced and in-market right now, it really kind of relies on the customer, the buyers of these vehicles opting up for either higher range or a higher package. Where's kind of that sweet spot that you envision many of the buyers of this particular vehicle actually opting into?

SCOTT BELL: Yeah, so we rolled out three variants here from an LT, which is kind of our entry level model to an RS, which starts to look a little bit more sporty and have a little bit more tech in it, all the way up to an SS model. The LT will be priced very aggressively, I guess you would say in this marketplace. So $45,000.

We think the RS is going to be a sweet spot that'll have the 320 range in that vehicle. And you'll be able to get this vehicle for the first time for us and I think in the industry, where we'll have an all wheel drive variant, a front wheel drive variant, as well as a rear wheel drive variant. So lots of selection, lots of choice for the consumer. And we think that'll help with adoption for sure.

PRAS SUBRAMANIAN: Hey, Scott, so CEO Mary Barra has talked about how she wants to pass Tesla in overall sales, EV sales by 2025 or mid-decade. How do you think that happens with what Chevy is doing? Is it offering lower priced models to the consumer?

SCOTT BELL: It's offering vehicles in segments that are very popular. So we revealed the Silverado earlier this year, a large pickup. We just did the Blazer here. In a few short weeks probably, just a month or so away, we'll talk about the Equinox EV. These are the three largest segments in the industry and for us to have an entry in each of those is going to be critical for us to do the volume that we aspire to do here in the next year or two.

- You know Scott, it always strikes me everybody always talks about Tesla. They talk about what you and GM are providing. Hyundai is the second largest seller of EVs in the United States after Tesla, I believe. So it seems like that you guys got to surpass that one before you get to Tesla as well. Who do you envision as the customers for these new products? Are you hoping to convert existing Chevy owners or are you going to be taking folks from other-- who are buying other EVs or other cars generally who you want to buy these cars?

SCOTT BELL: Yeah. It's a great question. So we've got entries in all these segments in both ICE and EV. So we're going to have offerings on both sides, if you will. And we're seeing a lot of conquest come into the EV space for sure. But to get the mass adoption that we're looking for, it's going to take to get Chevrolet consumers as well as our competitors' consumers into in our portfolio. And we think we've got having both ICE and EV entries is going to give us the best chance to do that.

- All right, well we look forward to keeping in touch, see how the effort is going. Scott Bell, Global Chevrolet Vice President as well as Yahoo Finance's Pras Subramanian thank you so much. Appreciate it Scott.