The Chevy Bolt: General motor’s Pledge
General Motors’ recent reveal of the Chevy Bolt SUV comes at a time in which lawmakers have called for stricter pollution regulations and the reduction of emissions to fight climate change. The new Bolt is part of GM’s pledge to bring 30 new EVs to market worldwide by 2035, and its goal of producing only electric passenger vehicles in 14 years.
Complementing this announcement, President Joe Biden intends to reaffirm the current administration’s goal of zero-emissions by 2035 through restoring full tax-credit for U.S made vehicles. Although GM is at a price disadvantage to most competitors due to a current $7,500 federal EV tax credit, the administration’s plan to restore full tax-credit for middle-class consumers would bolster overall EV sales.