America's Affordable EV Race Is Just Getting Started

About a decade after it first debuted, Chevrolet’s O.G. affordable electric car is back. The first Chevy Bolt was made between 2016 and 2023 and won accolades for being a capable, compact, everyperson EV—but it wasn’t profitable for General Motors.

The 2027 Chevy Bolt should be. While not a completely new car, it incorporates GM’s latest batteries, electric motors, hardware and software, making it good for 255 miles of range and a compelling $28,995 starting price.

“Now it’s a bona fide road trip vehicle,” its chief engineer told InsideEVs this week. As before, it’s made in America.

Fast-charging in particular is a quantum leap over the old Bolt. Capable of about three times the charging speeds now, it will now go from 10%-80% in a respectable 26 minutes. The last Bolt did this in about an hour.

The Bolt’s compact form factor hasn’t changed. But it’s received many other improvements, including a rear hatch you won’t hit your head on.

The new Bolt has been received well. But the same can’t be said for Tesla’s big debuts this week: the Model Y Standard and Model 3 Standard.

As I wrote in a piece for The Atlantic running later today, Tesla has long spoken of a new, possibly $25,000 EV. But CEO Elon Musk quashed that idea to focus on robotaxis and autonomy.

The alternative comes in the form of pared-back versions of Tesla’s existing cars at lower prices. But you need to be willing to live with serious compromises.

The Model 3 Standard and Model Y Standard start just under $37,000 and $40,000, respectively.

But they lose AM and FM radio, electric power mirrors, fully “vegan” leather seats, ambient lighting, a rear touchscreen, adaptive headlights, a premium sound system, a power-adjusting steering wheel and more.

Arguably the most perplexing change: the Model Y Standard keeps its signature glass roof, but it’s now covered in fabric.

I’ve heard this was done to cut the cost of the glass up top because making a metal roof was too expensive. To keep the cabin from getting too hot and making the A/C work harder (which cuts into electric range), the fabric was added to block the sun. It’s an odd change.

The reaction to these vehicles hasn’t been great. You lose a lot for only about $5,000 in savings. They would’ve been better values with the additional $7,500 EV tax credit, but here we are.

The real, under-the-radar winner this past week may have been Hyundai.

The Korean automaker slashed prices of its award-winning, now U.S.-made Hyundai Ioniq 5 by up to $10,000.

This puts the 245-mile SE Standard Range Ioniq 5 at just $35,000. The SEL RWD with 318 miles of range is now $39,800 (a real shot at that Model Y).

The trim most people likely get, the SEL AWD with 290 miles of range, is now $43,300.

The Ioniq 5 is now quietly the best EV deal in America, with a wide range of prices and configurations that meet many needs. And all of them have an AM/FM radio.

But wait: there’s more. The new Nissan Leaf just went on sale with 300 miles of range and a Tesla plug, starting at $30,000. (I’m driving one soon and quite excited about it.)

Even if their range isn’t great yet—and many are—these EVs already meet many families’ needs, or work well as second cars.

More affordable options are coming. The Kia EV3 crossover and Kia EV4 sedan have been a bit MIA, probably over tariff negotiations, but both should start under $40,000 in America.

We’ll see more manufacturers lower prices in the coming months and years to offset the loss of tax credits. It’s still a good time to be a buyer.

For EVs, it’s about cost. It’s always been about cost. If you give people a good, affordable reason to break up with gasoline, they will do it.

It’s about EV charging infrastructure, too—and that’s been quietly getting better and better across the country.

But all of this will ultimately depend on how much these carmakers can bear in costs. Those are steep discounts on Hyundai’s Ioniq 5, for example. How long can they keep that up?

I do think Americans are tired of outrageously expensive cars, no matter what powers them. The average new vehicle now costs about $50,000—who is that actually for?

Yet it’s a balancing act. Many carmakers need the expensive gas cars to pay the bills for R&D into electrification and autonomy. Add in tariffs, and you have more volatility than ever.

Still, this is the direction things are heading: electric vehicles will continue to improve and become more affordable, and more buyers will choose them for reasons beyond just helping the climate.

Meanwhile, Ford and GM both backed off on a scheme to extend their EV tax credits, following complaints by Ohio Sen. Bernie Moreno. [Reuters]

Proving it’s still not all sunshine and roses out there, GM and Stellantis could lose $1.1 billion in grants to retool plants for EVs. [Automotive News]

China’s got too many cars and too many car brands, offered with too many price cuts. And that oversaturation means it’s horrible to be a dealer there. [Bloomberg]

A German report says the Rivian-Volkswagen technology partnership is facing challenges due to Rivian’s lack of experience—and interest—in developing software for combustion cars, which VW is retreating to as EV sales prove uneven. [Manager Magazin]

Toyota is committing $1.5 billion in new capital to invest in new mobility, AI and climate startups. The world’s largest automaker is a bit of a tech laggard; can these companies help it catch up? [TechCrunch]

What does EV demand look like in America without the tax credit? In the near-term, it’s probably slowing down—but in other parts of the world, demand tends to rebound. And those affordable options will help. [Car Dealership Guy]

Similarly, 2026 will be the “year of the used EV,” according to battery health startup Recurrent’s CEO, Scott Case. [CNBC]

But who’s buying EVs right now? Believe it or not, it’s folks from the so-called “flyover states”—Denver, Dallas, Chicago, Houston and even El Paso are among the fastest-growing markets. [Andrew Garberson via LinkedIn]

The Trump Administration got blocked from ending federal funding for EV fast-chargers nationwide. But new rules aimed at cutting red tape may see chargers get built much more quickly. [Politico]

Some of New York City’s 400,000 lampposts could double as EV chargers soon, if a new City Council bill becomes law. I saw a lot of these in London—it’s a fantastic solution. [Crain’s New York]

Restaurant mega-chain Culver’s is bringing fast-charging stations to locations across the Midwest. [Yahoo News]

The new electric Acura RSX will send power back into your grid, and your home. Bi-directional charging is getting out of “pilot purgatory” to become a crucial function of EVs, and infrastructure support. [E&E News]

Toyota says it’s making more breakthroughs in cathode materials for its long-promised solid-state batteries. It still aims to launch those in 2027 or 2028. [Reuters]

Base Power, which leases out residential batteries and sells energy, just raised $1 billion—good news at a challenging time for the industry. [NY Times Dealbook]

Massachusetts-based 24M Technologies is taking battery packaging to the next level with a potential 1,000-mile EV design, my colleague Suvrat Kothari reports. [InsideEVs]

But as the industry slows for now—or perhaps meets a more reasonable pace—a lot of eyes are on whether or not promised “Battery Belt” jobs in states like Georgia, Tennessee and South Carolina will actually materialize. [Reuters]

GM says it’s on the path to “self-driving personal vehicles,” not just robotaxis. And it’s outlining a roadmap to get there. [GM Newsroom]

Speaking of, GM’s excellent hands-off highway Super Cruise is coming to traffic-ridden South Korea. Seoul is one of the least enjoyable places to drive on earth, so this is a good alternative. [GM Newsroom]

Another study shows that more and more, drivers are willing to pay extra for automated driving features—over many other options, in fact. [Escalent]

U.S. regulators are launching another investigation into self-driving Teslas after a series of crashes. In particular, they keep running red lights. [The Guardian]

If how it hires lobbyists is any indication, Waymo’s next robotaxi target is Minnesota. [Axios]

More and more automakers want their supplier companies to use AI in their factories to boost efficiency. [Automotive News]

Startup Vittori created a V12 supercar with AI-assisted design tools. You know, it doesn’t look half bad. [Motor1]

AI isn’t just for autonomous driving—it may also revolutionize service and maintenance, enhancing diagnostics and predicting service needs before they happen. [Forbes]

Elon Musk’s xAI startup is raising more money than initially planned, boosting its ongoing funding round to $20 billion. But is a “trillion-dollar bubble” on the way? [Bloomberg]