The electric car market is heating up, but the mainstream market needs to adopt them, and won't do that until they begin appearing for less than $50,000 - and much less. Chevrolet's upcoming Chevy Bolt electric vehicle will be priced starting at $29,995 after a federal tax credit of $7,500.
General Motors announced the news that its first electric car will be capable of over 200 miles on a single charge, for under $30K. Future owners of the Chevy Bolt will have to pay at least $7,500 in federal income tax in order to be eligible for the full tax credit, as it's not a refundable purchase, reports The Verge.
Before the credit, the Chevy Bolt will cost $37,495 for the LT trim model, while the higher-end Premium trim starts at $40,905. The base trim features a bunch of standards like 10.2-inch touchscreen, a 60kWh battery that should have you driving around 238 miles, and a powertrain that pushes out 200 horsepower, and 266 pound-feet of torque.