What is the most affordable electric car? 2023 Chevrolet Bolt at $26,595

On Jun 6, 2022

GM cut the price of the 2023 Chevrolet Bolt electric car by up to $6,300, the automaker announced last week. The $26,595 starting price, including destination, for the base Bolt EV 1LT is $5,900 less than last year, and makes the Bolt EV to the most affordable electric car on sale today. The larger 2023 Bolt EUV costs $28,195, down from $34,495 when it launched new last year.

The unusual price cut comes at a time of record-high new and used car prices caused as much by supply shortages as inflationary pressure. The average transaction price consumers paid for a new car last year exceeded $45,000, regardless of gas or electric powertrains.

The Bolt price cut comes after a sweeping battery fire recall that encompassed all Bolt models launched since 2017.

With the fire issue fixed and GM ramping up its electric vehicle lineup with six electric models going on sale this year, the price cut of nearly 20% on the entry-level Bolt marks a sign of good will. Or good business. GM electrics no longer qualify for any of the $7,500 federal EV tax credit. The price slash means the Bolt now undercuts the 2022 Nissan Leaf and its $28,375 starting point. The Leaf still qualifies for the full credit, depending on your tax liability, but the Bolt outperforms it in every other metric.

Nissan cut the price of the 2022 Leaf by $4,000 last year, before rolling out a modestly refreshed 2023 model available in only two grades—the type of move that typically precludes a model phase out. The 2023 Leaf S has a small 40-kwh battery pack and a 149-mile range, while the Leaf SV Plus has a 62-kwh pack and a 215-mile range. Supply issues have delayed the launch of the 2023 Nissan Ariya electric crossover.

The 2023 Chevrolet Bolt largely carries over following last year’s redesign. The 2023 Bolt EV and Bolt EUV are powered by a 200-hp electric motor at the front wheels, with a 65-kwh battery pack affording a range of 259 miles for the Bolt EV or 247 miles for the Bolt EUV.

2023 Chevrolet Bolt EUV Redline Edition

A new Redline Edition exclusive to the 2023 Bolt EUV adds $495 to the $32,695 Premier trim. The cosmetic package adds gloss-black 17-inch wheels with red accents and black leather upholstery with red accent stitching inside.

Both models come well equipped with a 10.2-inch touchscreen and wireless Apple CarPlay and Android Auto, as well as driver-assist features such as automatic emergency braking with pedestrian detection, active lane control, and automatic high beams. The Bolt EUV can be upgraded with Chevy’s excellent Super Cruise hands-free driving system.

The 2023 Bolt goes on sale this summer.