Having made good on its promise to bring a long-range battery electric vehicle to market before the end of 2016, Chevrolet has now confirmed the price of its new Bolt EV.
The plug-in electric vehicle, which has an EPA-approved range of 238 miles per charge — a distance the Los Angeles Times beat on a recent test drive — will be priced starting at $37,495.
That’s about what Chevy promised when it announced the car last year. After state and federal rebates, credits and incentives, the cost of owning an entry-level Bolt EV could fall below $30,000.
“Value is a hallmark for Chevrolet, and the pricing of the Bolt EV proves we’re serious about delivering the first affordable EV with plenty of range for our customers,” said Alan Batey, president of GM North America and leader of Global Chevrolet. “We have kept our promise yet again, first on range and now on price.”
The company has said it would begin delivering the four-door, five-seat passenger cars to dealers this fall.
That puts the Bolt EV in front of consumers at least a year ahead of the Tesla Model 3, CEO Elon Musk’s long-planned affordable, long-range battery electric sedan.
Musk, who has promised to deliver the car at $35,000 before government incentives, unveiled a working version of the Model 3 earlier this year. He said then it was possible that the first Model 3’s might be delivered in late 2017, though his company has a poor track record for meeting initial production goals. Its “falcon wing” Model X luxury crossover was delivered to pre-paid customers several quarters later than originally planned.
The Bolt EV will be available in two trim levels. Chevy has not released pricing yet on a fully loaded Bolt EV, but it will probably cost more than $40,000 before tax breaks.