General Motors (GM) has announced that it will stop production of the Chevrolet Bolt electric model by the end of this year. The Bolt and its larger counterpart, Bolt EUV, have been the company’s main electric vehicle (EV) sales drivers to date.
Although GM plans to produce over 70,000 Bolt models this year and sell over 400,000 EVs in North America next year, the company will no longer prioritize the Bolt. Initially positioned to rival the Tesla Model 3, the Bolt had similar pricing and range capabilities. However, a recall last year may have solidified the decision to discontinue the model.
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Last October, GM planned to expand Bolt production due to high demand. However, the Bolt’s technology is now outdated, and the automaker plans to launch new EVs more quickly than previously anticipated. According to GM CEO Mary Barra, the Orion, Michigan, factory that currently produces the Bolt will reopen and triple employment when it reaches full production capacity, enabling the company to manufacture 600,000 electric trucks annually.
āWhen the Chevrolet Bolt EV launched, it was a huge technical achievement and the first affordable EV, which set in motion GMās all-electric future,ā said Chevy spokesperson Cody Williams. āChevrolet 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.
See also: GM’s EV Lineup to Qualify for Full $7,500 Tax Credit as Chevy Bolt EV Inventory Dwindles
The Bolt, with a starting price below $30,000, is currently GM’s most affordable EV, but the Equinox EV will replace it in this niche. Despite the end of Bolt production, GM is committed to its all-electric future and plans to launch many new EVs in the coming years.
