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GM Drops Prices on EV Chevrolet Bolt Despite Rising Commodity Costs

General Motors on Wednesday said it will cut prices on its electric Chevrolet Bolt EV, likely making it the least expensive EV on sale in the U.S.

The Detroit automaker cut the cost of the Bolt EV by around $6,000 and by as much as 18% for the lowest-price version, that starts at $26,595, down from $32, 495. General Motors also reduced the price of its larger Bolt at $28,195 down from $35, 695.

“This change reflects our ongoing desire to make sure Bolt EV/EUV are competitive in the marketplace,” GM said in a statement, adding “affordability has always been a priority for these vehicles.”

The change in price was reported earlier by the Verge.

The Automotive manufacturing corporation said it plans to build more Bolt EVs and EUVs this year than in other year since launched in 2016. The sales of Bolt hit high in 2021 with 24,828 vehicles.

GM widened a recall of the Bolt to more than 140,000 vehicles to replace battery modules after a series of fires in parked vehicles, and halted production and retail sales.

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