GM slashes prices of Chevy Bolt EVs despite rising commodity costs

DETROIT – Despite rising commodity costs, General Motors on Wednesday slashed the price of its 2023 Chevrolet Bolt EV, likely making it the least expensive electric vehicle on sale in the U.S.

The Detroit automaker cut the cost of the Bolt EV to a starting price of $26,595, down $5,900 from the 2022 model year. GM also reduced the price of its larger Bolt EUV by $6,300 to start at $28,195. All pricing includes a mandatory $995 destination charge.

The cuts come as automakers, especially pure EV companies, hike prices on their electric vehicles amid changing market conditions and rising commodity costs, specifically for key materials needed for EV…