The 2023 Chevrolet Bolt EV as soon as once more qualifies for the federal EV tax credit score, however now it is also getting a small value enhance.

Basic Motors misplaced eligibility for the $7,500 credit score when it reached the 200,000-unit gross sales cap that was beforehand in place. Beneath the revamped guidelines enacted as a part of the Inflation Discount Act (IRA) and attributable to take impact Jan. 1, producers that beforehand phased out underneath the 200,000-unit rule can as soon as once more qualify—in the event that they meet new necessities for home meeting, in addition to sourcing necessities for battery minerals, amongst different issues.

2023 Chevrolet Bolt EV

It was beforehand thought the Bolt EV would solely qualify for a $3,750 credit score, however as a result of the Inner Income Service (IRS) pushed again a few of its battery necessities, the Chevy qualifies for the total $7,500 credit score in the interim.

GM has raised the value of the Bolt EV by $900 to $27,495 with the necessary $995 vacation spot cost. The associated Bolt EUV appears to be like slated to get a $600 value bump, bringing the bottom value to $28,795 with vacation spot.

The automaker, when requested concerning the pricing change and any connection to the EV tax credit score, did not point out the latter in an announcement supplied to Inexperienced Automobile Reviews: “As a result of ongoing industry-related pricing pressures, the Chevy Bolt EV and EUV will see modest value will increase beginning in 2023, however we anticipate it to stay America’s most reasonably priced EV. Chevrolet stays dedicated in its long-standing function to supply true worth. We anticipate to proceed constructing the file gross sales momentum we noticed in 2022.”

2023 Chevrolet Bolt EUV Redline Version

This comes after two latest value cuts. GM lowered the value by about $5,000 throughout the lineup for the 2022 mannequin yr, and by about $6,000 for 2023. So the Bolt EV and EUV stay a number of the most cost-effective EVs available on the market. It now seems that the Bolt EV will be the lowest-priced automobile to qualify for the $7,500 EV tax credit score, in actual fact.

GM even provided a retroactive low cost to current consumers following its announcement of the large 2023 mannequin yr value minimize. A battery recall affected doubtlessly all Bolt EVs and has introduced new battery packs to many, seemingly together with a number of the older leftover stock that benefited from that low cost.