General Motors (GM) is set to introduce the next-generation Chevy Bolt EV next year, following the discontinuation of its top-selling electric model at the end of 2023. The new Bolt EV will mark a significant milestone for GM as North America’s first Ultium-based model to utilize LFP batteries, a move expected to result in substantial cost savings for the company.
GM’s CFO, Paul Jacobson, highlighted the financial benefits of the new Bolt EV, stating that it will save the company billions by integrating LFP batteries into its Ultium platform. This strategic decision aligns with GM’s commitment to offering more affordable electric vehicles in response to growing consumer demand.
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The announcement of the new Bolt EV comes after GM CEO Mary Barra reassured EV enthusiasts last year that a next-generation model was in development. Barra emphasized that the new Bolt EV will deliver an enhanced driving, charging, and ownership experience, thanks in part to the use of LFP batteries.
Speaking at the Automotive Press Association in Detroit, Barra confirmed that the new Bolt EV will be unveiled next year. She expressed confidence in the decision to continue the Bolt brand, citing its established reputation and strong customer satisfaction.
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In an interview for the Daily Drive podcast, Jacobson underscored the importance of offering affordable EVs and explained that reviving the Bolt EV was a strategic move to leverage the Ultium platform and LFP technology. He stated that these enhancements would not only improve the business case for the Bolt EV but also contribute to achieving a positive variable profit by the second half of the year.
Despite GM’s ambitious plans for its EV lineup, the company faced challenges with its Chevy Blazer EV due to a software quality issue. The stop-sale on the Blazer EV, implemented in December, remains in effect as GM works to resolve the issue and resume sales.
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Barra emphasized that 2024 is a year of execution for GM, with plans to reset EV production, relaunch Cruise, and address software quality issues. The launch of the next-generation Chevy Bolt EV is a key component of GM’s strategy to accelerate its electrification efforts and offer a diverse range of electric vehicles to consumers.
