General Motors is cutting the price of the base to $26,595 for 2023. That’s over $5,000 less than the price of the base for 2022. But, perhaps more importantly, it’s also less than the price of any new sold in the U.S. right now, according to . Meaning that the 2023 Chevy Bolt will be the cheapest EV in America.

Neither the so-called , nor the humble will be able to make that claim. The Tesla has actually to $46,990, while the Nissan starts at $27,400. Still cheap, but not the cheapest compared to the Chevy.

The question hanging over the price cut, however, is whether it’s enough to buy the Chevy Bolt goodwill among prospective EV buyers after and . GM has a lot of work to do in order to rehabilitate the image of the Chevy Bolt in the U.S. — from a heap of burning battery packs to a squeaky clean electric hatchback that drivers could safely park in a driveway and garage.

The was (is) a huge deal for GM. All told, 140,000 Chevy Bolts went back to GM, and LG had to repay the car maker $1.9 billion. It’s too early to tell if this price cut is the best way to move past the recalls, but GM seems to think so because it’s also lowering the price of the 2023 Chevy Bolt EUV to $28,195. That’s $6,300 less than the current cost of the .

It’s a pretty big cut, considering that raw materials are getting . GM didn’t say if the Bolt(s) will still turn a profit under these lower prices. Notably, the prices would be even lower for buyers if the Chevy Bolt and Bolt EUV were still eligible for federal tax credits in the U.S. Sadly, neither EV is eligible.

Still, allow me to let my hair down for a second and say: Oh, God! Finally! Finally, we’re going in a direction that may convince more Americans to really consider an EV as their next vehicle. The is the biggest hurdle to EV ownership right now. Putting an EV squarely in the mid-$20,000 range could be a decisive factor for car shoppers who are on the fence.