Hybrids & Electrics

The 2021 Chevy Bolt Could Be Shockingly Expensive

There is good news and bad news. The good news is that the new and improved 2021 Chevy Bolt is on the way with an amazing redesign. But the bad news is that it could hurt your wallet with a shockingly expensive price. 

The 2021 Chevy Bolt EV lost its tax credit 

Usually, the price of an electric vehicle is pretty high, but then people remember that with buying an electric or hybrid vehicle, they may qualify for a tax credit. This can take the sting out of going all-in on an environmentally friendly vehicle. 

Red 2020 Chevrolet Bolt EV
Red 2020 Chevrolet Bolt EV | Chevrolet

RELATED: The 2020 Chevy Bolt Has the Tesla Model 3 Beat in a Key Area

However, according to Mashable, the Chevy Bolt and other electric vehicle options had their tax credit incentive decreased again. As of October 1, 2019, the General Motors tax credit was cut from $3,750 to $1,875. And the Bolt EV and other Cadillac options lost the tax credit after March 2020. 

Why are the tax credits being cut? Because automakers start losing the full $7,500 credit after selling 200,000 fully electric or partially electric vehicles and General Motors already hit that mark. But perhaps the money you save by not having to pay for gasoline will balance things out in the long run. 

What to expect with the new Chevy Bolt EV 

The 2020 Chevy Bolt has an MSRP of $36,500, which is incredibly high for a compact vehicle. This price is before dealerships have added their markups, and because the 2021 Bolt EV has a fresh face and new updates, the price could increase even more. 

On the outside, the 2021 Bolt EV still has a classic Bolt look. Only it has an updated face and new rear tail lights. It’s slightly sportier, but the significant changes were made to the interior. According to Electrek, the seats are now much better with improved lumbar support and more quality materials. 

The dashboard has higher quality materials and features a sporty, flat-bottom steering wheel. The infotainment screens have been updated, and the gear shifter is gone. There are now RND buttons in place of the shifter. 

Chevrolet Bolt EV driving past the mountains
Chevrolet Bolt EV | Chevrolet

You’ll notice that the Qi charger was moved to the dashboard for wireless phone charging. It will also provide wireless Apple Car Play and Android Auto. Plus, the Bolt EV now has USB-C ports that can charge laptops and charges. 

Chevy Bolt EV power 

The 2021 Chevy Bolt EV isn’t getting much of a powertrain upgrade. It will have the same 66kWh battery and the same motors. We would have liked to see the range improve to at least 350 miles from 259 on a single charge. But it’s still ahead of rivals like the Kona Electric. 

Chevy Bolt EV
Chevy Volt Touch Screen

It has a peppy acceleration with quick and accurate steering, meaning it’s fun to drive and can easily pass other drivers. The brake pedal is firm and provides stopping power, which can be an issue for rivals. Plus, the regenerative braking system recharges the battery when you lift your foot off the pedal. 

With a 240-volt outlet, it takes about nine hours to charge the battery fully. But with a fast-charging option, you can gain about 90 miles of range every 30 minutes. Rivals with more range like the Tesla Model 3 cost significantly more.