The Chevy Bolt Will Start at $29,995 After Uncle Sam’s Tax Credit

Is it still worth holding out for the Tesla Model 3?

chevrolet bolt electric vehicle ev price cost the drive

As we inch ever closer to the day that brand-spanking-new Chevrolet Bolts begin to roll off their assembly line, Chevy is working hard to keep us interested by drip-feeding us facts and figures about General Motors's new electric car. Last week, The Drive reported on the news that Chevy's Tesla Model 3 fighter will have a range of 238 miles; now, Chevrolet has revealed just how much the Bolt will cost when it goes on sale later this year.  

Chevy announced Tuesday that the Bolt would officially start at $37,495,  including the destination charge. That price should come as little surprise to enthusiastic EV-watchers; since the hatchback's official debut earlier this year, GM has been claiming the Bolt would be priced around $37,500. 

chevrolet bolt price the drive

More importantly, that MSRP means that the federal government's $7,500 tax rebate for electric vehicle purchasers brings the Bolt's true starting price down to a mere $29,995. And on top of Uncle Sam's tax break, many states also offer their own fiscal credits for purchasing an electric car; thanks to Colorado's generous tax breaks, for example, a Bolt there could cost as little as $23,995. 

Less than $30,000 for a fully-electric hatchback that can easily go more than 200 miles on a single charge doesn't sound like an awful deal to us. Especially when you consider that its main competitor—indeed, the only other electric car in that price bracket expected to have a similar driving range—is probably still at least a year from arriving in customer's driveways. Unless you're a fanatical member of the Tesla cult, we'd say it's at least worth taking a look in the Chevrolet showroom

chevrolet bolt electric car price the drive