Chevrolet just announced that America’s ‘most affordable EV’ is returning to dealerships — how cheap will the new model be?

The financial feasibility of purchasing an electric vehicle just received a notable boost with Chevrolet’s announcement that the next generation of its popular Bolt model is on the way.

Described as “America’s most affordable EV,” the Bolt was slated to have its production stopped at the end of 2023, but GM and its chair and CEO Mary Barra have now revealed that a new model will be forthcoming, as Harvard visiting fellow David Zipper (@DavidZipper) tweeted.

Despite the planned halt to new models of the Bolt, Chevrolet revealed that sales of the EV and EUV versions of the car had been the strongest in its lifespan during the first half of 2023. The apparent appetite for the vehicle may have been a factor in the U-turn from General Motors.

“Our customers love today’s Bolt,” Barra noted in Chevrolet’s press release. “It has been delivering record sales and some of the highest customer satisfaction and loyalty scores in the industry.”

While details about the new-look Bolt are scarce, it will eventually join three other Chevrolet EVs that will reach the market soon, with the Silverado EV, Blazer EV, and Equinox EV arriving later in 2023, as user Facts Chaser (@Factschaser) tweeted.

We know that the new Bolt will make use of Chevrolet’s “Ultium” battery platform and “Ultifi” software.

Prices for the Bolt, which was first launched in 2017, began at $26,500. According to Cox Automotive (via Kelley Blue Book), the average transaction price for an EV in June 2023 was $53,438. Prices for the upcoming model have not been revealed.

Tesla’s recent strategy to cut the costs of its vehicles has resulted in a price war in the EV market, but the cost of buying a Bolt still sits significantly below the sector average.

In what is welcome news in the race to swap cars running on dirty energy for models powered by electric motors, which produce no pollution on the roads, GM has set an ambitious goal.

The company intends to have zero tailpipe pollution produced by all new ‘light-duty” vehicles sold by 2035, with further plans to become carbon neutral by 2040.

In a 2021 media briefing reported on by Reuters, GM chief sustainability officer Dane Parker said: “We’re taking actions so that we can eliminate tailpipe emissions by 2035. Setting a goal for us 15 years from now is absolutely reachable.”

“Good work GM!” one Twitter user commented upon news of the resurrected Bolt.

“Wow, [General Motors and Chevrolet] make a great decision,” added another. “Bolt is a fantastic entry-level EV with a fierce following. Don’t mess it up!”

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