If the Chevy Bolt’s small size doesn’t turn you away, it might be one of the best electric vehicles (EVs) for the money currently on the market. In its base configuration, the Bolt can go for an estimated 259 miles before the battery runs dry. That’s leaps and bounds better than the base Nissan Leaf’s 212 miles of gasoline-free driving. Every Bolt model is only equipped with a single EV motor, yet it puts out a healthy 200 horsepower and will go from 0-60 in about 6.5 seconds, according to Chevy. A single motor and a sub-7 second 0-60 time aren’t earth-shattering compared to horsepower and torque monsters like a Tesla Model S, Lucid Air, or GMC Hummer EV, but it’s still measurably faster than and more powerful than many economy hatchbacks offered today.
The 2023 Bolt has an MSRP of $25,600 according to Chevy, making it the cheapest new EV on the market, beating out the Nissan Leaf’s $28,040 starting price. The Bolt is a great choice if you’re about to make the leap into EV ownership, or you’re a Tesla owner wanting to distance yourself from all the bad press. Either way, you may want to act soon as the Bolt is eligible for several EV-centric discounts that are on the way out.
An EV bargain
According to Electrek, the Bolt qualifies for $7,500 in tax credits, slashing the MSRP to $18,100, but there’s a catch. That hefty tax credit is only valid until March of 2023, then the credit drops to $3,750. With the discount, the Bolt solidifies its status as the least expensive EV, but it additionally makes it the cheapest new car in General Motors’ entire lineup of brands, gas or electric, beating out the Chevy Trax.
Even entry-level EVs aren’t exactly inexpensive. For example, the Kia Niro EV starts at $39,450, a full $12,960 more than the starting MSRP of the hybrid version. With the Ford F-150 Lightning’s numerous price hikes and the six-figure price tags of offerings from Tesla, Lucid, and GMC, EV ownership can sometimes feel like it’s outside the financial reach of normal people. But if the Chevy Bolt is any look at the path of EVs going forward, it could be a bright future, at least for your wallet.