GM bumps Chevy Bolt pricing, but the increase is lower than expected
GM has announced a price bump on the 2023 Chevy Bolt EV and EUV, citing higher production costs. But the increase is lower than expected and lower than price increases across the rest of the industry, meaning Electrek’s Vehicle of the Year is still a screaming deal.
After announcing a ~$6,000 price drop in the middle of last year, GM has now bumped the price of the Bolt back up a little bit. But the increase is less than expected and less than we’re seeing in a lot of the industry.
The Chevy Bolt now starts at $26,500, up $900 from its previous base price. The EUV got a smaller increase of $600, up to a base price of $27,800. Both models are subject to a $995 destination fee on top of these prices.
The price rise comes just a few days after the Bolt regained eligibility for the US federal EV tax credit due to the Inflation Reduction Act. This tax credit allows buyers to claim a nonrefundable $7,500 credit on their federal taxes after buying an EV. Originally, it was thought that the Bolt would only qualify for $3,750, but when the IRS pushed back its implementation of some battery guidelines, that made the Bolt eligible for the full $7,500 for the time being.
Even after this price rise, the Bolt remains the cheapest EV available in America. The next-cheapest is the base model Nissan Leaf, at $28,040. The Leaf is also manufactured in America, which means it qualifies for the federal EV tax credit as well.
Here’s a list of cars that qualify for the EV tax credit – foreign-assembled cars only qualify if they are leased, not purchased.
GM emailed us a statement, and said it has “nothing planned beyond what we’ve announced” in terms of price increases:
Due to ongoing industry-related pricing pressures, the Chevy Bolt EV and EUV will see modest price increases starting in 2023, but we expect it to remain America’s most affordable EV. Chevrolet remains committed in its long-standing role to provide true value. We expect to continue building the record sales momentum we saw in 2022.
The Chevy Bolt is the first of GM’s modern EVs, first introduced in the 2017 model year. Since then, GM has implemented a new battery platform called “Ultium” which underpins its future EV offerings. The Bolt doesn’t use Ultium, which means it will eventually disappear from the product lineup as GM unifies its offerings under its new battery platform.
Electrek’s Take
Many thought that the implementation of these credits would result in a price hike for the Bolt, but today’s increase of less than a thousand dollars is much lower than expected, especially given the massive price cut the cars got mid-last-year and the increases we’re seeing across the industry.
Which means the Bolt is still a screaming deal – at least until March.
In addition, there are thousands of additional dollars worth of stackable deals that some buyers can take advantage of:
We still love this car, not only because it’s so low-priced, but because it’s a well-made EV with a five-star safety rating and premium features like Wireless CarPlay/Android Auto – though we would like it more if it had faster DC charge speed.
So if you’re looking for an EV, especially in the next couple months, this price bump doesn’t change our recommendation. While there are better EVs out there, the Bolt promises a lot of bang for your buck, and after tax credits and other incentives, for the right buyer it can be even cheaper than the cheapest gas car in America. It seems like a no-brainer to us. So, if you’ve been thinking about getting an EV, reach out to your local dealers and see if you can find a Bolt at near MSRP (which could be a rough task, since EV demand is so high right now). And regardless, consult a tax professional to make sure that you’ll qualify for these credits.
If you’d like, you can use our links to contact your local dealers about the 2023 Chevy Bolt EV or 2023 Chevy Bolt EUV and see if they have any in stock for delivery before “sometime in March,” when the EV tax credit is expected to be cut in half.
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Get ready, children. There’s a new electric bike licensing scheme that will soon be tested as one of several methods designed to help educate young riders on responsible road use and combat the growing concern of dangerous e-bike riding among youths around the world.
Known as the Student Bicycle License Scheme (SBLS), the proposal in New South Wales, Australia, will operate as a trial of a new licensing program for electric bike riders. The program targets school-aged e-bike riders in response to a growing number of accidents and misuse cases involving young riders.
The pilot program will require students to complete an online training course and pass a knowledge test before being issued a digital license to ride an e-bike or e-scooter. The scheme is expected to launch later this year in select schools, and if successful, could pave the way for a broader rollout.
Schools in Sutherland and Newcastle have reportedly expressed interest in joining the program, which leaves it up to individual schools to decide how they wish to use the new license program. For example, they can make it mandatory for students who want to ride to school or use secured bicycle parking facilities at the school.
The trial will initially focus on education rather than enforcement. Students who complete the course will receive a digital “ride-ready” credential, but there are currently no plans to introduce fines or penalties for unlicensed riders during the pilot phase. The government is partnering with road safety experts and schools to develop the training materials, which will cover speed limits, helmet use, sidewalk etiquette, and proper intersection behavior.
Australia’s National Transport Research Organisation is also reviewing current electric micromobility laws, with a report expected by the end of the year. The Queensland trial is seen as a possible blueprint for other regions facing similar safety concerns.
The announcement comes as electric bikes become increasingly popular among Australian youth, not just as toys, but as practical transportation to and from school, work, and social events. With that growth has come scrutiny – several high-profile crashes, some involving modified or overpowered e-bikes, have pushed lawmakers to act.
The same phenomenon is playing out around the world, including in Europe and the US, where young riders have increasingly taken to electric bikes as an alternative form of transportation, though one that has raised concerns around road safety among a young populace who has yet to learn the rules of the road.
Electrek’s Take
This is one of several school-level educational outreach programs we’ve seen pop up lately, and I think these are great ideas.
While the idea of requiring a license to ride an e-bike might sound extreme in some places, Australia’s approach here is education-first, and it could actually be a smart move. It also seems like the license is designed to be effective without being a burden. If you can grasp the knowledge, you can pass the test. And since many of the issues surrounding young e-bike riders arise from a general ignorance of road rules, this could be an effective solution. Teaching young riders the rules of the road before they hit the pavement might help reduce injuries and improve public perception of micromobility. Plus, the fact that it is a digital license means that there would presumably be fewer costs involved, which will hopefully allow the program to be free of charge and further reduce the burden of the licensing process.
Of course this won’t do anything for the “hooligan” riders who know the rules and simply don’t care, but that’s where enforcement has to step in as the heavy-handed partner to education.
I think this is a great example of balanced e-bike regulation. A measured mix of education and enforcement is key to ensuring e-bikes remain safe while taking advantage of their myriad benefits to the public. And hey, it sure makes a lot more sense than NYC trying to cut the speed of all electric bikes in half overnight.
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The State of California is moving to ban the sale of Tesla cars amid claims that the company and its CEO, Elon Musk, have misled buyers about the self-driving capabilities of their cars. We’ve also got market-leading news out of Vietnam and a pricey, pricey lesson for one VW ID.Buzz buyer on today’s lesson-learning episode of Quick Charge!
We also ask what this might mean for the recent Uber/Lucid autonomous taxi tie-up and go through a full rundown of the fastest depreciating EVs on the market (and yes, there are four Tesla models in the top 10 … because the Cybertruck was too new to qualify).
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If you’re considering going solar, it’s always a good idea to get quotes from a few installers. To make sure you find a trusted, reliable solar installer near you that offers competitive pricing, check out EnergySage, a free service that makes it easy for you to go solar. It has hundreds of pre-vetted solar installers competing for your business, ensuring you get high-quality solutions and save 20-30% compared to going it alone. Plus, it’s free to use, and you won’t get sales calls until you select an installer and share your phone number with them.
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Sunrun is putting tens of thousands of home batteries to work in Puerto Rico as the island’s electric grid faces a summer of high temperatures and energy shortfalls.
The company says it’s now dispatching energy from over 37,000 residential batteries to help grid operator LUMA keep the lights on. That stored power is being used to prevent rolling blackouts when demand spikes and centralized power plants can’t keep up.
Sunrun’s emergency power contribution has grown more than tenfold since last summer. LUMA expects more than 75 energy shortfall events between now and October, with each dispatch sending electricity to the grid for four consecutive hours. During several recent evenings, Sunrun and other virtual power plant (VPP) operators provided enough energy to offset a 50-megawatt generation gap, LUMA said.
Sunrun CEO Mary Powell said Puerto Rico’s aging infrastructure and intense weather patterns make home battery support increasingly critical:
It’s going to be a very difficult summer, which is why Sunrun has ramped up our dispatch capabilities, using tens of thousands of home batteries to support the grid and people of Puerto Rico.
She added that distributed power plants like Sunrun’s serve the same role as natural gas peaker plants – offering fast, reliable power during high-demand moments – but with clean energy.
Sunrun customers enrolled in the VPP will get paid too. Each participating battery earns about $200 minimum for the season, and customers who allow more of their stored energy to go to the grid earn even more. Sunrun also earns revenue for operating the VPP.
Read more: The US’s largest virtual power plant now runs on 75,000 home batteries
The 30% federal solar tax credit is ending this year. If you’ve ever considered going solar, now’s the time to act. To make sure you find a trusted, reliable solar installer near you that offers competitive pricing, check out EnergySage, a free service that makes it easy for you to go solar. It has hundreds of pre-vetted solar installers competing for your business, ensuring you get high-quality solutions and save 20-30% compared to going it alone. Plus, it’s free to use, and you won’t get sales calls until you select an installer and share your phone number with them.
Your personalized solar quotes are easy to compare online and you’ll get access to unbiased Energy Advisors to help you every step of the way. Get started here.
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