- General Motors CEO Mary Barra told investors on a Tuesday earnings call the company would end Chevrolet Bolt and Bolt EUV production by the end of 2023.
- The decision comes as the automaker shifts its focused toward ‘Ultium’-based EVs, like the Equinox EV, Blazer EV and Silverado EV as well as the existing GMC Hummer EV and Cadillac Lyriq.
- So far this year, the Chevrolet Bolt has been a strong seller, and GM still plans to build more than 70,000 units this year to satisfy that demand.
- The Bolt EV originally launched in 2016, ahead of the Tesla Model 3 and as one of the U.S. market’s affordable mainstream EVs to compete against the Nissan Leaf.
- Chevrolet’s first EV had its fair share of issues, including high-profile battery fires that prompted a stop sale and production pause in 2021.
It’s nearly the end of the road for the Chevrolet Bolt.
General Motors aims to stop production of its first mainstream EV by the end of this year. CEO Mary Barra mentioned that decision in an investor earnings call Tuesday, as the automaker shifts its focus toward launching the next ‘Ultium’ platform models.
It’s a strange move, considering the Chevrolet Bolt EV and EUV are selling extraordinarily well — dealers shifted 19,700 vehicles in the first quarter alone. Still, the car hasn’t been problem-free, it never caught on to the extent executives hoped earlier on in its lifespan, and its riding on an aging platform (being GM’s only non-Ultium EV currently on sale).
Speaking to CNBC, spokesperson Cody Williams said of today’s news: “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. 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.”
As it stands right now, General Motors is moving full speed ahead to ramp up its EV production, in an ambitious effort to catch up with Tesla. In time, the company aims to build 1 million electric vehicles annually. The company still plans to build 70,000 Bolts this year to meet its sales goal of 400,000 EVs between early 2022 and the middle of next year in the North American market.
Thanks in part to the rehashed federal EV tax credit, the current Chevrolet Bolt and Bolt EUV are among the cheapest EVs currently on the market. Pricing starts at $27,495 before the $7,500 credit and applicable state incentives. So, you may want to look into one if you’d like to get into an affordable EV, though we’ll see what dealer supply looks like as GM winds down production.