Chevy Bolt Sequel Close to $20K Starting Price

While the super-cheap BYD Seagull, which could be made in Mexico and priced around $12,000 in the U.S. without tariffs has automakers quaking, the updated 2026 Chevy Bolt EUV shows Detroit can sell a comparable battery-electric vehicle at or below that price.

General Motors has not released the Bolt’s specs, range or pricing. But one GM executive with knowledge of the program tells WardsAuto to expect the price to start below $28,000. A full $7,500 federal tax credit, available to buyers at point-of-purchase, would bring the subcompact CUV down to nearly $20,000 to start.

Under current U.S. tariffs, if BYD exported the Seagull to the U.S. from Mexico, which the Chinese automaker's management says it has no plans to do, the price would be more than the Bolt after factoring in tax credits.

The next Bolt EUV isn’t all-new, but rather is a significant update fitted with Ultium batteries, updated safety equipment and connected-car technology, along with Super Cruise hands-off, eyes-on assisted-driving capability. This time around only the larger EUV version will be offered, rather than offering both the larger and smaller versions of the original Bolt. Range is expected to be around 275 miles (443 km), according to the GM executive. And GM President Mark Reuss has said the Bolt will be “profitable in year one.”

The Bolt’s pricing also is setting a benchmark for Ford’s cheaper forthcoming subcompact electric CUV and Stellantis’s planned Jeep subcompact BEV.

“We need to make EVs more affordable to reach a broader customer base,” Ford CEO Jim Farley said at the Aspen Ideas Festival in July. “Offering models in the $25,000 to $30,000 range is crucial for mass adoption.”

Stellantis plans to introduce a $25,000 (after tax credit) electric Jeep targeting the entry-level BEV market, though the progress of that vehicle is under review amid extensive cost cutting and restructuring of product cadences as the company retrenches.

It’s critical both politically and economically for U.S. automakers and transplants to offer entry-priced models to encourage BEV adoption. According to J.D. Power, the average transaction price for new BEVs currently stands at approximately $53,376, which is about 10% higher than the average price of gas-powered vehicles.

BYD Seagull not yet coming to U.S., but automakers expect it’s only a matter of time.

Forecasters believe that not only will less-expensive BEVs be taken up by consumers, many of whom will buy their first BEV as their household’s second vehicle, but also that the addition of more entry-priced vehicles in general will be met with enthusiasm by buyers. In 2018, automakers offered 15 models priced below $25,000. This year, that number is just 10.

The lack of affordable entry-level options limits new-car ownership for Gen Z, who are often at the start of their careers and managing other expenses like rent, student debt and daily living costs.

Gen Z exhibits a strong interest in BEVs, often surpassing that of millennials, Gen X and baby boomers. A J.D. Power survey revealed that Gen Z is the fastest-growing segment for BEV consideration, with millennials leading in overall consideration at 72%. Additionally, a 2024 survey found that 69% of Gen Z and 59% of millennials view BEVs as the future of car ownership.