Given the recent announcement that the U.S. Treasury’s EV tax credit guidance will be delayed a few months, it’s possible that a few GM electric vehicles may be eligible for the full $7,500 federal EV tax credit. For some vehicles, like the Chevy Bolt EV, this could result in substantially higher levels of affordability.
The 2023 Bolt EV gets a nearly $6,000 price decrease for the new model year, resulting in a starting MSRP of $26,595, including the destination freight charge (DFC), in base 1LT trim. Now, if the Bolt EV ends up qualifying for the full EV tax credit in January and February 2023, then Chevy’s small EV would become even more affordable via the $7,500 federal income tax credit. If we subtract this $7,500 from the vehicle’s base price, then it would have a theoretical “all-in” price of $19,095, and that’s before any additional electric vehicle incentives, with availability differing by state. That’s also before any taxes or registration fees.
So what does a sub-$20K Bolt EV get you? The 2023 Bolt EV outfitted in the base 1LT trim features an estimated 259 miles of range, as is the case for all Bolt EVs. Additionally, the base model also receives standard Chevy Safety Assist, and Apple CarPlay/Android Auto compatibility. The all-electric subcompact hatchback rides as standard on 17-inch Silver-painted aluminum wheels, features a 120-volt portable charge cord, and dons a Jet Black interior colorway with cloth seats.
For prospective buyers of the 2023 Chevy Bolt EUV, it’s much of the same story. Factoring in the same $7,500 EV federal income tax rebate, the 2023 Bolt EUV’s “all-in” price in base LT configuration would drop from $28,195 to $20,695, before taxes and fees.
As a reminder, both the 2023 Chevy Bolt EV and Bolt EUV utilize a single-drive electric motor, which produces 200 horsepower and 266 pound-feet of torque. The motor is fed by a 65 kWh lithium-ion battery. As for structure, the Bolts ride on the GM BEV2 platform, while production takes place at the GM Lake Orion plant in Michigan.