Last Updated on October 21, 2023 by SPN Editor
When we discussed the best electric cars, Chevrolet Bolt is one of the best electric cars. In terms of price, this affordable electric car is the cheapest, starting at US$ 27,495 which makes it the most affordable electric car.
The future holds promise with the introduction of a larger Bolt featuring cutting-edge battery technology, set to make waves in 2025.
Chevrolet Bolt Reducing Prices to Make Itself Most Affordable Electric Car
This year, Chevrolet has made a significant move by reducing the price of the Chevy Bolt by a substantial $5,900 when compared to the 2022 model. This remarkable price drop brings the Manufacturer’s Suggested Retail Price (MSRP) down by a staggering $10,900 compared to the 2021 model, essentially offering the same car at a much more affordable rate. This strategic pricing adjustment by Chevy is a response to the changing landscape of electric vehicle incentives.
One major factor behind this bold price cut is the expiration of the $7,500 federal tax credit that was previously available for Chevrolet’s electric vehicles. Now that Chevy has produced a sufficient number of electric vehicles, this tax credit is no longer applicable, making it necessary for the company to adjust its pricing to remain competitive in the market.
This price reduction also serves as a remedy for Bolt’s reputation, which took a hit in the fourth quarter of 2020 when Chevrolet issued a recall for all Bolt vehicles produced up to that point. The recall was initiated to address a battery issue that had the potential to cause fires.
In response to this safety concern, production of both the Bolt EV and Bolt EUV ( a mid-size SUV Electric car) was temporarily suspended in November 2021 until the issue could be resolved. Fortunately, production resumed in April 2022, and Chevy has been working diligently to regain trust among consumers.
Looking ahead, General Motors has confirmed that the 2023 model year will be the final one for the Bolt EV and its crossover sibling. However, there’s exciting news on the horizon as CEO Mary Barra has announced that a larger Bolt, equipped with GM’s advanced Ultium battery technology, is set to hit the market in 2025.
Chevrolet Bolt EV takes the spotlight as the most budget-friendly and affordable electric car available in the United States. This accessibility makes it a compelling option, especially when compared to other smaller electric vehicles like the Tesla Model 3 and Hyundai Kona Electric.
The Bolt is equipped with a single 200-horsepower motor that drives its front wheels. This robust propulsion system delivers an impressive EPA-estimated range of 259 miles on a single charge. What’s even more impressive is the Bolt’s DC fast-charge capability, boasting the ability to add up to 100 miles of range in just 30 minutes. This feature makes convenient and fastest electric car charging, ensuring that you spend less time waiting and more time on the road.
The 2023 Bolt EV boasts an impressive combined EPA rating of 120 miles per gallon equivalent (MPGe), highlighting its remarkable efficiency and eco-friendliness. This EV covers 180 miles on a single charge, making it a compelling option for longer journeys.
Stepping inside the Bolt, you’ll be pleasantly surprised by the spacious interior. It is a welcoming environment that previous Chevy drivers will find familiar and comfortable. With the rear seatback folded down, the Bolt EV offers nearly as much cargo space as a Chevy Equinox, demonstrating its versatility and practicality.
The Chevrolet Bolt EV has come a long way since its debut in 2016. It has transformed into a stylish and budget-friendly electric hatchback with an impressive range and fast charging capabilities.
Today, it stands as a captivating small electric vehicle with a unique and distinctive design that sets it apart from the mainstream. This transformation has resulted in an affordable electric car that offers exceptional value to consumers.
Its roomy interior further enhances its appeal, making it a strong contender in the world of electric vehicles. If you’re in the market for accessible and affordable electric car, the Bolt EV should certainly be on your radar.