Buick dealers who choose to stay with the brand will need to invest at least $300,000 to $400,000, on average, to sell its future electric vehicles, the brand said this week.
The minimum investment required of dealerships for tooling, training and other EV equipment is an estimated average and will vary based on the individual store, Buick spokesman Sean Poppitt said in a statement to Automotive News.
Buick plans to shift to an all-EV lineup by 2030 and has said it does not plan to introduce any new gasoline-powered vehicles after 2024. The brand will use the Electra name for its EV lineup along with an alphanumeric code to distinguish the models. Buick has offered to buy out any U.S. dealers who don't want to make the required investments to prepare to sell EVs.
The brand declined to share the number of dealerships that have elected to take the buyout offer to date. Poppitt said in the statement that "any dealer who wants to discuss this program is strongly encouraged to contact the Buick team."
Buick had 1,963 U.S. dealerships at the start of this year, according to Automotive News' Dealer Census.