General Motors has announced plans to stop production of the Chevrolet Bolt electric model at the end of this year, as company CEO Mary Barra told investors. So far, the Chevy Bolt EV and its larger offshoot Bolt EUV accounted for the bulk of the company’s EV sales.
GM will not be dropping the electric car immediately and still plans to produce over 70,000 Bolt models this year, with plans to sell over 400,000 EVs over the next year in North America. Initially, the Bolt had been intended to compete with the Tesla Model 3, with similar prices and decent ranges, however, the recall last year probably helped cement the decision.
Interestingly enough, GM had made plans last October to expand Bolt production due to high demand. However, the vehicle is now becoming somewhat dated and General Motors plans to launch their next upcoming electric vehicles faster than previously. Barra explained that when the factory in Orion, Michigan, which currently produces the Bolts, reopens and reaches full production, employment will nearly triple, and the company will have the capacity to build 600,000 electric trucks annually.
“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,” Chevy spokesperson Cody Williams said. “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.”
With a starting price under $30,000, the Bolt remains General Motors’ most affordable electric vehicle, however, this niche is planned to be taken over by the Equinox EV.
cnbc.com
