General Motors claims to make the least expensive electric vehicle for sale in the U.S.

The 2027 version of the Chevrolet Bolt, GM’ entry-level electric model that went into a year’s hiatus in 2024, will sell for a starting asking price of $28,995.

GM said it improved the Bolt, adding 15 miles of range, faster charging of up to 150 kilowatts, a North American Charging Standard port and more while keeping its price down in an inflated market.

That effort was all the more important after a federal tax credit for EV purchases and leases ended on Oct. 1, eliminating an up to $7,500 savings for consumers. That’s on top of general inflation that’s challenging mass-market shoppers.

Getting there came from leveraging existing GM EV technologies, according to the automaker.

“Everybody thinks you get the [manufacturer's suggested retail price] down by removing content,” said GM Chief Engineer Jeremy Short. “More important than all that is economies of scale. That is by far the most powerful driver in this.”

Short said GM actually saved some money by tapping components and technologies from its greater EV lineup.

The new subcompact crossover Bolt has a larger driver display and touchscreen than previous iterations, taken from midsize GM trucks’ interior components. GM also adapted the Chevrolet Equinox’s wheel-turning power for the Bolt.

Still the Bolt is still the Bolt, GM emphasized.

“The Bolt has a pretty well-defined customer,” Short said. “Trying to sell them something else isn’t necessarily what they’re looking for. This is the best car for their money and the best car for their lifestyle. It does everything they want at the price they want.”

LEARN MORE: EVs Bring Most Satisfaction to Date