Chevy Bolt Returns as Affordable Ultium EV Under $30K

Mary Barra: Thrilled with the Bolt EUV

Mary Barra, the CEO of General Motors, suggested that a budget-friendly Bolt EV will make its comeback in the foreseeable future. It would be offered at a lower cost than the upcoming Equinox Electric Vehicle (EV) crossover.

The head of GM, speaking on NPR’s Marketplace podcast, expressed her admiration for the Bolt EUV, which she has been driving for several months, saying that she “absolutely loves” it. However, she noted that it is a second-generation EV, meaning that its production costs are higher than those of the third-gen Ultium platform, which boasts a 40 percent reduction in battery costs.

By the close of this year, the current Bolt EV and Bolt EUV will be phased out, even though these automobiles offer excellent worth for their cost nearly seven years after they were unveiled in 2016, boasting a base price of $26,500 (not including delivery charges).

When the Ultium-based Chevy Equinox EV was disclosed late last year, a few analysts contended that it could potentially supplant the Bolt when it hits the market in Autumn 2023, possibly with an expected MSRP of approximately $30,000. Now, however, it appears this won’t be true after all; instead, it looks like the Bolt EV could make a comeback as an even more inexpensive battery-powered vehicle.

We think it’s very conceivable that a fresh compact EV featuring the newest GM Ultium platform could have a starting price of close to $25,000 before any taxes or rebates are factored in. After all, compared to its predecessor, the current Bolt EV’s second-gen battery, the Ultium technology fronted by GM carries up to 40 percent lower costs.

As its career in manufacturing comes towards an end, the Chevy Bolt EV still offers a quite praiseworthy EPA-estimated range of 259 miles, while the larger Bolt EUV can provide drivers up to 247 miles on one charging session. Additionally, these two compact vehicles are cost-effective and reasonable for many customers, ranked by Kelley Blue Book as the most economical EVs over a five year span. Without a doubt, these cars represent an outstanding purchase value.

It bears mentioning that the Bolt’s progress has not been unremittingly fluid, as General Motors discontinued the manufacture of both automobiles in August 2021 owing to a enormous recall of batteries impacting some 142,000. Production recommenced in April 2022.

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Source: Marketplace podcast (NPR)