GM Beat Tesla to the Punch With Affordable EVs
General Motors CEO Mary Barra has claimed that the company will compete with Tesla and other top automakers in the electric vehicle space. The CEO is delivering on that promise in a way many consumers may not have even seen coming. GM has recently reintroduced two affordable electric vehicle nameplates via its Chevrolet brand, and it plans to unleash a wave of affordable electric vehicles in the future.
Tesla has no answer to the Chevy Bolt EV
The Chevy Bolt EV’s controversial history is well-documented. It has become an underdog after major reliability issues that ended in a mass recall (one of the largest in recent years). Now the Bolt EV is back with a new price tag that’s tough to hate on.
The 2023 Chevy Bolt EV starts at just $25,600, making it the most affordable electric vehicle on the market according to CNN. Pricing has been a huge issue for Tesla, and the automaker has become notorious for price fluctuations. The company announced a $25K hatchback slated for the near future, but GM has already delivered an affordable electric hatchback. Best of all, the inexpensive EV is actually practical.
The Bolt EV gets 259 miles of driving range, which is adequate by today’s EV driving range standards. If drivers purchase a home charger for the Bolt EV, then it should be practical enough to function as a daily driver used for commuting.
The Bolt EV could become the people’s electric vehicle. While Tesla models are becoming increasingly popular, high starting prices keep many consumers from switching to the brand. The electric vehicle that will become the most ubiquitous is the EV which is the most accessible to the average American citizen. Hence why vehicles like the RAV4 are so popular.
The Chevy Bolt EUV targets a segment Tesla has avoided
Tesla produces electric cars and SUVs, but it has yet to produce an electric subcompact SUV to exist between the Model 3 and Model Y. In fact, there aren’t many electric subcompact SUVs on the market. South Korean automaker Hyundai Motor Company produced the Kona Electric, and its Kia brand produced the Niro EV. Chevy’s Bolt EUV makes both those models seem overpriced.
The 2023 Hyundai Kona Electric starts at $33,550. The 2023 Kia Niro EV starts at $39,450. Chevy’s Bolt EUV starts at a modest $27,200. The Premier final trim starts at just $31,700. GM is positioned to make a huge splash in the electric subcompact SUV space in 2023, thanks to the Bolt EUV’s affordable price. It gets 247 miles of driving range.
Why affordable electric vehicles are so important
Most major automakers are developing electric vehicle platforms. Some of the largest automotive companies have already produced successful EV platforms. The electric future is coming, whether we like it or not. So, automakers will race to create the most popular EV, and that competition is great for consumers.
Affordable EVs are important because they make electric vehicles accessible and cause other automotive brands to offer more competitive pricing to stay relevant. GM’s affordable electric vehicles are playing a historic role in the history of the electrification of all vehicles.