General Motors Company [NYSE:GM] has stuck to its word of bringing the 200-plus-mile Chevrolet Bolt EV to market for about $37,500.
On Tuesday GM confirmed the starting price at $37,495, including destination. It follows an announcement on September 13 that the car has an EPA-estimated range of 238 mi.
The price doesn’t factor in incentives such as the available $7,500 federal tax credit, which for applicable buyers will see the electric hatchback’s net price drop to just $29,995.
The price is for a base LT model which includes numerous standard items such as a 10.2-inch touchscreen display for the infotainment system, a rearview camera, Michelin self-sealing tires, and an adjustable brake energy recovery system known as Regen on Demand. The latter, via paddles mounted behind the steering wheel, allows the driver to control the severity of the brake energy recovery.
Available to Bolt EV buyers will be a Premier package that adds niceties such as leather seats and a surround-view camera. Also available will be a high-speed DC charging system that adds about 90 mi of range in 30 minutes at public DC charging stations. A 240-volt charging system for the home will also be offered, adding approximately 25 mi for every hour of charging. A standard 120-volt wall outlet will likely require overnight charging. Pricing for these options is yet to be announced but the DC charging system is expected to cost $750.
The Bolt EV features a 60-kilowatt-hour lithium-ion battery. This powers an electric drive system that consists of a single electric motor mounted under the hood and spinning the front wheels only. It delivers 200 horsepower and 266 pound-feet of torque and combined with a 7.05:1 final drive ratio should see the Bolt EV accelerate from 0-60 mph in 7.0 seconds or less.
Tesla [NSDQ:TSLA] is yet to confirm pricing for its Model 3 but CEO Elon Musk in March said the electric sedan would cost about $35,000 before incentives. He also said the car would have about 215 mi of range.
The Bolt EV will reach select Chevrolet dealerships in late 2016, one year ahead of the promised start of deliveries for the Model 3.
For more on the 2017 Chevrolet Bolt EV, read the first drive review over at Green Car Reports.