Chevrolet's Bolt electric car priced to start at $37,495
General Motors confirmed early Tuesday that it's going to price its new long-range electric car right where it promised, positioned to take on Tesla's Model 3.
The new 2017 Chevrolet Bolt will start at $37,495, including delivery charges. After tax credits are taken into account, the price could be as little as $30,000. That's in keeping with where GM CEO Mary Barra said the car would be priced when it was introduced as a concept in January 2015.
Certainly, there is no shortage of electric car models on the market. But the Bolt could be a breakthrough because of its astounding range and price tag under $40,000. Bolt will be rated at 238 miles per charge, slightly better than Tesla's first mid-market car, due to hit showrooms late next year.
Bolt could steal some of Tesla's thunder. Tesla has talked about pricing the car at a similar price and performance level, but the Model 3 is not due for another year. At present, Tesla makes only higher-end luxury vehicles, and they cost more than $60,000.
Bolt is not to be confused with the Chevrolet Volt, a plug-in hybrid car. Bolt is fully electric, with no backup gas engine.
Bolt is due to go on sale by the end of the year.