GM Cuts Cost of Electric Vehicles by $6.000


General Motors has lowered the prices of its Chevrolet Bolt hatchback and the Bolt EUV by about $6,000.

General Motors announced this week that it's cutting the price of its Chevrolet Bolt all-electric car. The move comes as the automaker attempts to increase sales of its Bolt models and other electric vehicles.

GM has been on a roll lately. After having stopped production for around nine months to deal with an issue with safety, the company is now back in full swing and building more cars than ever before.

The company is confident that both vehicles will be modestly profitable, but this is likely to be a challenge given that they are smaller vehicles in a country where people adore big pickup trucks and SUVs.

The Bolt EV has a range of around 247 miles when fully charged and is one of the most efficient EVs on the market, beating out other models such as the Ioniq 5 and Kia EV6 by a considerable distance.

The price cut comes after GM and Tesla have used up the $7,500 federal tax credits available to U.S. customers, making their electric models less competitive than those of other automakers.

General Motors is doubly motivated to remain in the EV race: not only do they want to be a leading player in the EV market, but they also have a huge vested interest as an automaker.

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