Update: We would like you all to know that this story was an April Fools joke. Chevrolet is not reducing the MSRP of the 2017 Bolt EV to $20. That would be absurd. Nothing in this story is meant to be taken seriously.
General Motors has made its move following the announcement and reveal of the Tesla Model 3. The Model 3, which will compete directly with the 2017 Chevrolet Bolt EV, was revealed to start at $35,000, undercutting the 2017 Bolt EV by $2,500.
To combat Tesla, GM announced it will not stand still on the matter, and has announced it will bring the 2017 Bolt EV to market with a new price point of just $20 after U.S. tax credits.
“We understand this is a competitive environment, and we not only want to arrive to market first, but we want to sell more than Mr. Musk could imagine,” a Chevrolet spokesperson said. “Everyone has a $20 bill. It’s the best marketing and pricing strategy to date.”
Accompanying the announcement was Chevrolet’s new strategy to equip certain Bolt EV models with the 2.0-liter LTG turbocharged four-cylinder.
“Gasoline is cheap, and we know the EV market isn’t the strongest. We feel the Bolt EV will reach a larger base of consumers if we use good, old-fashioned fossil fuels,” Fam Pletcher, chief engineer for electrified vehicles stated.
“We understand it’s not a true EV with the four-cylinder engine, but the kids love turbos,” she added.
The new powertrain and pricing will arrive next year, with a launch date of April 1, 2017.