After a federal tax credit of $7,500, the Chevy Bolt will start at just $29,995, GM announced on Tuesday. GM has always had that price as a target, and after announcing the electric car will get more than 200 miles on a single charge, it’s coming with an attractive price to match.
Before the federal tax credit, the Chevy Bolt will start at $37,495 for the LT trim, with the Premier trim starting at $40,905. While the base trim includes standard features such as a 10.2-inch touchscreen and 60kWh battery, the Premier trim comes equipped with a 360-degree camera system, leather seats, and safety features, such as blind-spot monitoring and rear cross traffic alert.
“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.
The starting price is actually more expensive than Tesla’s promised $35,000 Model 3, which is already up for pre-order. However, the Model 3 isn’t expected to hit the road until the end of 2017 at the earliest, while the Bolt is set to come out before the end of this year.