During an earnings call on Tuesday, CEO Mary Barra announced that General Motors will be discontinuing production of the electric Chevrolet Bolt.
The Bolt was introduced in 2017 and was known for being the most reasonably priced electric vehicle on the market, with a current starting price of $26,500. It also qualified for the recently updated EV tax credit, one of only 11 models to do so.
In a statement, spokesperson Cody Williams stated that the Chevrolet Bolt EV was a major technological accomplishment and the first economical EV, which set the stage for GM’s all-electric future. Williams added that the company will continue expanding its EV lineup.
Production for both the Chevy Bolt EV and the larger EUV will conclude by the end of 2023, and the Michigan plant where they were manufactured will start producing electric Chevy Silverado and GMC Sierra trucks in 2024.
The midsize Chevy Blazer EV, which is expected to provide up to 320 miles of range and have a starting price of $44,995, will be released in July. The Equinox EV, with 300 miles of range and a price tag of roughly $30,000, is also expected later this year.
The Bolt was debuted ahead of the Tesla Model 3, making it the first battery-powered car on the market under $50,000 with a range of over 200 miles. However, reports from 2016 suggest that GM anticipated losing up to $9,000 per vehicle in order to lead the market.
Following accounts of LG battery packs in the Bolt catching fire spontaneously, the car was subject to a full recall, and production was halted for nearly a year.
In 2021, GM recommended that owners park their cars outside and at least 50 feet from other vehicles in the rare event of a potential fire. They were also advised against leaving Bolt EVs unattended while charging.
According to Williams, the next generation of GM electric vehicles will employ the company’s new Ultium battery.
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