GM Cuts Prices Of Chevrolet Bolt Electric Vehicles

(RTTNews) - General Motors has cut the prices of its 2023 Chevrolet Bolt electric vehicles or EV, despite rising commodity costs, reports said. GM's vehicle is likely the cheapest electric vehicle available in the U.S. at present.

The company is slashing prices on the Bolt by $5,900 and of the larger Bolt EUV by $6,300. The lowest-price version will start at $26,595, down from earlier announced $32,495. Further, the Bolt EUV will start at $28,195, compared to previous price of $35,695.

GM reportedly said, "This change reflects our ongoing desire to make sure Bolt EV/EUV are competitive in the marketplace."

The company said it plans to build more Bolt EVs and EUVs this year than in any other year since it launched in 2016.

GM last year had recalled Chevrolet Bolt electric vehicles built since it began production due to a faulty battery that could catch fire. GM resumed Bolt production in April and began resuming sales earlier this year after a six months halt. The company also launched an advertising campaign recently to win back Bolt consumers.

GM's price cut move comes as other EV makers raised prices on their electric vehicles amid rising commodity costs, mainly for EV battery materials.