Published , by Morgan Shaver
Published , by Morgan Shaver
General Motors shared plans to cease production of the Chevrolet Bolt by the end of the year. The news comes courtesy of General Motors CEO, Mary Barra, in a statement made to investors during a discussion of GM’s earnings for Q1 2023.
As noted by outlets like CNBC, the reason behind GM ditching its Bolt models (both the EV and EUV) center around its battery cells being older in design than GM’s other electric vehicles using its Ultium architecture like the Cadillac Lyriq or GMC Hummer. Additionally, the Bolt has suffered setbacks including recalls over supplier-related battery issues which resulted in several fires.
“When the Chevrolet Bolt EV launched, it was a huge technical achievement and the first affordable EV, which set in motion GM’s all-electric future,” said Chevy spokesman Cody Williams. “Chevrolet will launch several new EVs later this year based on the Ultium platform in key segments, including the Silverado EV, Blazer EV and Equinox EV. ”
Moving forward, GM plans to produce over 70,000 Bolt models before the end of the year and is targeting sales of over 400,000 EVs from 2022, through 2023, into the first half of 2023. CEO Mary Barra also remarked that a Detroit plant that produced Bolt vehicles since they were first rolled out 2016 will be retooled in preparation of production for its electric Chevy Silverado and GMC Sierra trucks next year.
A plant in Orion, Michigan which also produces Bolt vehicles will see employment nearly triple according to Barra when it reopens, with the company looking to have the capacity to build 600,000 electric trucks annually. It’ll be interesting to see how GM’s shift from its affordable Bolt to more expensive electric truck models like the Silverado EV will impact the company’s earnings and sales, and whether GM will introduce other small, affordable vehicles along the lines of the Bolt in the future.
Now that you’re caught up on GM’s plans to ditch the Bolt by the end of 2023, be sure to brush up with some of our previous coverage, including General Motors and Samsung SDI planning to build a new battery cell factory by 2026, and Tesla saying that Cybertruck factory tooling is on track with Alpha versions currently being produced.