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After introducing new incentives, the Honda Prologue EV is now cheaper to lease than Tesla’s Model Y. Honda believes the Prologue hits the “sweet spot” of the electric SUV market at the right price. Can it compete with Tesla’s best-selling Model Y?

After kicking off production of its first global electric SUV in February, the Honda Prologue began hitting US dealerships in March.

Powered by GM’s Ultium platform (the same one underpinning Chevy, Cadillac, and GMC EVs), the Honda Prologue includes up to 296 miles range. Honda claims it has the “highest standard driving range in its class.”

To make it more “sporty and engaging,” Honda adjusted the platform with multi-link front and rear suspensions.

The 2024 Honda Prologue is available in five variants, starting at $47,400. All are powered by an 85 kWh lithium-ion battery, which can add 65 miles of range in roughly 10 minutes.

All Prologue models include a suite of Honda Sensing safety and driver-assistive tech. Other key features include Google built-in, Apple CarPlay and Android Auto compatibility, and a wireless phone charger.

Honda-Prologue-Tesla-Model-Y
2024 Honda Prologue (Source: Honda)

Two-wheel drive models are powered by a 212 hp electric in the front. Meanwhile, dual-motor AWD variants feature up to 288 hp and 333 lb-ft of torque.

With the $7,500 EV tax credit, the 2024 Honda Prologue price falls as low as $39,900 (without destination).


2024 Honda Prologue trim
Starting Price
(w/o $1,395
destination fee)
Starting price after
tax credit

(w/o $1,395
destination fee)
Starting price after
tax credit

(with $1,395
destination fee)
EPA Range
(miles)
EX (FWD) $47,400 $39,900 $41,295 296
EX (AWD) $50,400 $42,900 $44,295 281
Touring (FWD) $51.700 $44,200 $45,595 296
Touring (AWD) $54,700 $47,200 $48,595 281
Elite (AWD) $57,900 $50,400 $51,795 273
2024 Honda Prologue prices and range

Honda Prologue EV price compared to the Tesla Model Y

Tesla has the Model Y listed with a starting price of $44,990. With the $7,500 federal tax credit, Tesla Model Y prices fall to as low as $37,490.

And that’s with up to 320 miles range. The AWD Model Y starts at $47,990 or $40,490 with the credit.

Honda-Prologue-Tesla-Model-Y
Honda Prologue Elite interior (Source: Honda)

However, after slashing lease prices, the Honda Prologue is cheaper than the Tesla Model Y. The 2024 Honda Prologue starts at just $399 per month.

The deal is for a 36-month lease with $3,999 due at signing. According to online car research firm CarsDirect, Honda introduced a new $2,000 lease incentive on all 2024 Prologue models across 15 states.

Honda-Prologue-Tesla-Model-Y
Tesla Model Y (Source: Tesla)

After the new incentive, lease prices are $70 cheaper than before at an effective rate of $510 per month. In comparison, the Tesla Model Y is listed at $399 per month with $3,999 due at signing, amounting to $513 per month.

With a $1,000 loyalty bonus, lease prices can be as low as $369 per month, with $3,999 due at signing. This amounts to an effective cost of $480 per month.

Meanwhile, several rivals are also offering big incentives to lease their new EVs. The 2024 Chevy Blazer EV starts at $439 per month to lease, which is nearly the same as the gas model.

Chevy-Blazer-EV-lease-prices
2024 Chevy Blazer EV (Source: GM)

Genesis is offering deals on its luxury electric SUVs. The 2024 Genesis GV60 EV has an effective lease rate of $506 per month, while lease prices for the larger GV70 Electrified start at just $510 per month.

If you’re in the market for a new EV, there are some massive savings opportunities right now. You can use our links below to find deals on popular EV models in your area.

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What EV sales slump? Illinois’ EV sales outpace the nation by 4:1

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What EV sales slump? Illinois' EV sales outpace the nation by 4:1

Fueled by incentives from the Illinois EPA and the state’s largest utility company, new EV registrations nearly quadrupled the 12% first-quarter increase in EV registrations nationally – and there are no signs the state is slowing down.

Despite the dramatic slowdown of Tesla’s US deliveries, sales of electric vehicles overall have perked up in recent months, with Illinois’ EV adoption rate well above the Q1 uptick nationally. Crain’s Chicago Business reports that the number of new EVs registered across the state totaled 9,821 January through March, compared with “just” 6,535 EVs registered in the state during the same period in 2024.

Those numbers represent more than 50% growth in EV registrations – far beyond the expected 12% first-quarter increase nationally being projected by Cox Automotive. (!)

What’s going on in Illinois?

File:Illinois Governor J. B. Pritzker (33167937268).jpg
Illinois Governor JB Pritzker at the Chicago Auto Show; by Ray Cunningham.

While President Trump and Elmo were running for re-election, they campaigned on the threat promise of canceling the $7,500 federal tax credit for EVs. Along with California Governor Gavin Newsom, Illinois’ Governor JB Pritzker made countermoves – launching a $4,000 rebate for new electric cars and up to $1,500 for the purchase of a new electric motorcycle.

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At the same time, the state’s largest utility, ComEd, launched a $90 million EV incentive program featuring a new Point of Purchase initiative to deliver instant discounts to qualifying business and public sector customers who make the switch to electric vehicles. That program has driven a surge in Class 3-6 medium duty commercial EVs, which are eligible fro $20-30,000 in utility rebates on top of federal tax credits and other incentives (Class 1-2 EVs are eligible for up to $7,500).

We covered the launch of those incentives when the program was announced at Chicago Drives Electric last year, but the message here is simple: incentives work.

SOURCES: Chicago Business, Ray Cunningham; featured image by the author.

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XCMG launches XE215EV battery swap electric excavator ahead of bauma

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XCMG launches XE215EV battery swap electric excavator ahead of bauma

The electric construction equipment experts at XCMG just released a new, 25 ton electric crawler excavator ahead of bauma 2025 – and they have their eye on the global urban construction, mine operations, and logistical material handling markets.

Powered by a high-capacity 400 kWh lithium iron phosphate battery capable of delivering up to 8 hours of continuous operation, the XE215EV electric excavator promises uninterrupted operation at a lower cost of ownership and with even less downtime than its diesel counterparts.

XCMG is delivering on part of that reduced downtime promise with the lower maintenance and easier repair needs of electric equipment, and delivering on the rest of it with lickety-quick DC fast charging that can recharge the machine’s massive battery in 1.5-2 hours … but that’s not the slick bit. The XCMG XE125EV can be powered up without leaving the job site thanks to its BYD battery swap technology.

We first covered XCMG and its battery swap technology back in January, and covered similar battery-swap tech being developed by MOOG Construction offshoot ZQUIP, as well – but while XCMG’s battery tech has been in production for several years, it’s still not widely known about in the West (even within the industry).

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XCMG showed off its latest electric equipment at the December 2024 bauma China, including an updated version of its of its 85-ton autonomous electric mining truck that features a fully cab-less design – meaning there isn’t even a place for an operator to sit, let alone operate. And that’s too bad, because what operator wouldn’t want to experience an electric truck putting down 1070 hp more than 16,000 lb-ft of torque!?

Easy in, easy out

XCMG battery swap crane; via Etrucks New Zealand.

The best part? All of the company’s heavy equipment assets – from excavators to terminal tractors to dump trucks and wheel loaders – all use the same 400 kWh BYD battery packs, Milwaukee tool style. That means an equipment fleet can utilize x number of vehicles with a fraction of the total battery capacity and material needs of other asset brands. That’s not just a smart use of limited materials, it’s a smarter use of energy.

You can check out all the XE215EV’s specs at this tear sheet, and get an in-person look at the Chinese company’s latest electric excavator this week in Munich, Germany.

SOURCE | IMAGES: XCMG.

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Volvo shows off production PU500 battery energy storage system

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Volvo shows off production PU500 battery energy storage system

As “extreme” weather events become more commonplace, the demand for reliable and portable energy continues to rise. In response to that growing demand for dependable off-grid power, Volvo has developed the new PU500 Battery Energy Storage System (BESS) designed to take electrical power when it’s needed most.

Designed to be deployable in a number of environments at a moment’s notice, the Volvo Energy PU500 BESS is equipped with approximately 500 kWh of usable battery capacity (up to 540 kWh total). More than enough juice, in other words, to power a remote construction site, disaster response effort, or even a music festival – anything that needs access to reliable electricity beyond a grid connection.

That’s great, but what sets the PU500 apart from other battery storage solutions is its integrated 240 kW DC fast charger.

“With an integrated CCS2 charger, the PU500 is designed to work with all brands of electric equipment, trucks, and passenger cars,” says Niklas Thulin, Head of BESS Product Offer at Volvo Energy. “This ensures that no matter what type of electric vehicle or machinery you rely on, the PU500 can provide the power you need, making it a truly flexible solution for any grid constrained site or location.”

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The integrated charger in the PU500 has the impressive ability to charge a heavy equipment asset (be that an electric semi truck or something like a wheel loader) in under two hours. Its on-board capacity allows to fully recharge up to 3 electric HD trucks or 20 electric cars per day, making it an incredibly versatile disaster response asset.

Electrek’s Take

Stockholm progresses with electric construction site from Volvo CE
Electric job site; via Volvo CE.

As we often say over at The Heavy Equipment Podcast, “just because you’re working for the power company doesn’t mean you have power,” and there are hundreds of scenarios where the extra power provided by something like the new PU500 would be useful. Its ability to be palletized and easily moved or swapped out of a larger BESS array, too, just add to its flexibility.

SOURCE | IMAGES: Volvo.

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