Chevrolet and Tesla Race to the Bottom With New Lower-Priced Electric Vehicles

The affordable electric vehicle market got a bit more crowded this week. Chevrolet and Tesla both unveiled new entry-level models, following the end of the federal EV purchase tax credit program in September.The 2027 Chevrolet Bolt is a rebooted version of the Bolt EUV that was put on hiatus in 2023. Chevrolet initially planned to discontinue it entirely, but was coaxed into keeping it by fans of the cheap and cheerful EV. It used the interim to update the compact crossover and move its production from Michigan to Kansas.The new Bolt carries over the body from the previous edition with a mild restyling, but replaces its powertrain with the latest technology. It has a new electric motor and a battery pack that provide 255 miles of range, which is eight miles more than the old one. It can also charge three times faster, but still requires 26 minutes to fill up at a public fast charging station to the recommended 80% which prevents degradation. A built-in Tesla-style input allows you to do that at a Tesla Supercharging station without an adapter, but you’ll need one for the other networks.The 2027 Chevrolet Bolt is an updated of the 2023 model. ChevroletAn interior redesign adds Chevrolet’s latest digital displays and infotainment system, which is powered by Google and can set routes based on how much charge is left in the batteries while suggesting charging stops along the way. The appropriately futuristic hands-free Super Cruise highway driving system is an available option.The price will be as low as $28,995 when deliveries begin next year, but they might not last very long. Chevrolet said the Bolt will be a “limited run model” without elaborating. It’s not too hard to figure out why. Building economy cars in the U.S., electric or otherwise.With the tax credit gone and the EV market expected to soften, there just isn’t as much demand for a vehicle like the Bolt as was expected in 2023. Chevrolet is also planning to start assembling the gas-powered Equinox in the Kansas factory in 2027, and that is its best-selling SUV, so it might already be eyeing the Bolt’s production capacity.The Tesla Model 3 Standard is a new low-priced version of the electric sedan. TeslaTesla’s entries may have more staying power. The Model 3 Standard and Model Y Standard aren’t the $35,000 Teslas that some car shoppers had been hoping for, but list for $38,630 and $41,630, respectively. That is $5,500 and $6,500 less than their next-highest siblings.Both rear-wheel-drive models promise 321 miles of range, but the cost-cutting is evident throughout. Tesla swapped in textile seat inserts, ditched the ventilated front seats and rear seat heating entirely, and removed the rear seat infotainment screens. The only free paint color is grey.The Model Y gets an especially odd treatment with the glass roof featured in the more expensive trims still installed, but covered up with a headliner. This reduced manufacturing costs without having to reengineer the vehicle with a full metal roof. It also allowed Tesla to change the double-laminated windows for a less costly type of glass, while adding sound insulation to the roof to help keep the cabin quiet.The Model Y Standard’s glass roof is covered up inside the cabin as a cost-saving measure. TeslaEven at the new price points, the Standard Teslas will cost more for many buyers than the nicer trims did when the tax credit was available, and they are far from a sure thing for success.Tesla introduced a budget version of the Cybertruck pickup that traded amenities for a lower price in April and it discontinued it in September, so there is recent precedent for its customers shunning the least luxurious vehicles.People asked for cheaper electric cars, and now it’s up to them to prove they actually wanted them.

Chevrolet and Tesla Race to the Bottom With New Lower-Priced Electric Vehicles

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