General Motors is shuttering production of the practical, affordable Chevrolet Bolt EV, but it’s still possible to get a good deal – while supplies last. Electrek found that the car is available to lease for $299 per month, but once they’re gone, they’re gone.
Having said that, the Bolt EV’s low lease price does come with a high down payment of $5,139, due at signing. The annual mileage is also limited to just 10,000 miles, so you’ll have to be comfortable using the car sparingly during the lease. Even so, that monthly payment is killer, and the down payment and mileage limits aren’t completely out of line with other low-cost leases.
The automaker announced plans to discontinue the car earlier this year but quickly reversed course to say that at least one-half of the Bolt lineup – the more crossover-like Bolt EUV – would return on its new Ultium platform.
While it remains popular and is one of the most affordable EVs on sale, the Chevy Bolt uses dated technology that could push production costs higher. To keep it affordable, GM wants to streamline its configuration and place it onto the Ultium platform, which underpins all its other EVs.
The Bolt is a perfect car for many buyers, and its low cost of entry makes it ideal for people who can’t spring for the $50,000-plus EVs sold by many automakers. We’ve long heard fables of affordable electric vehicles from Tesla and others, but very few have emerged. Rather than push forward its cheap, smaller EV, Tesla just started cutting Model 3 pricing to the point that it’s hard to argue against it. The Bolt was always affordable, but GM’s other EVs are far from the mark on pricing.