Reports from earlier this year indicated that Chevrolet is planning to stop manufacturing its Bolt EV and EUV vehicles by the end of the year.
The report has truth to it. Chevrolet is phasing out the Bolt EVs that used its older generation battery technology. However, the company has announced that it will soon introduce a next-gen Bolt with General Motors’ (GM) new Ultium battery system.
“We will keep the momentum going by delivering a new Bolt…and we will execute it more quickly compared to an all-new program with significantly lower engineering expense and capital investment by updating the vehicle with Ultium and Ultifi technologies and by applying our ‘winning with simplicity’ discipline,” said Mary Barra, GM Chair and CEO.
The news comes as part of the GM’s quarterly earnings conference call.
Chevrolet said that the Bolt EV and Bolt EUV clocked in record sales in the first half of 2023 before it announced that it would stop manufacturing the vehicle.
Further, GM reported its second-quarter revenue of $44.7 billion USD ($58.8 billion CAD), but also mentioned that it incurred a $792 million USD ($1.04 billion CAD) charge for “new commercial agreements GM has with LG Electronics and LG Energy Solution.”
In Canada, the original Bolt EV starts at $41,574, while the Bolt EUV starts at $43,179.
It is unclear what the next-gen Bolt EV and EUVs with the Ultium battery system and Ultifi technologies would cost. Ultium batteries would reportedly allow GM vehicles to charge faster and offer more range.
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