GM Announces Plans for Upcoming Chevrolet Bolt EV
General Motors has announced that despite plans to discontinue production of the Chevrolet Bolt due to outdated battery cell technology and factory renovations, a new iteration of the popular and affordable electric vehicle is in the works.
The company hasn’t revealed many details about the new Bolt – you’ll have to wait until later this year. Unsurprisingly, however, the next-gen model will use GM’s Ultium battery system and its Ultifi software platform. The company says that by leveraging these technologies, it will be able to bring the Bolt back to market on an “accelerated timeline,” but gave no indication of when that might be.
GM announced the Bolt during its quarterly earnings call. The company said it saw its strongest Bolt EV and EUV sales to date in the first half of 2023. It reported quarterly revenue of $44.7 billion, up 25 percent from a year earlier, but said the new partnership with LG included a $792 million charge. “The charge reflects a conscious decision GM made during the Chevrolet Bolt EV and Bolt EUV recalls to serve customers in ways that go beyond traditional remedies,” GM said.
The company built about 50,000 electric cars in North America in the first six months of 2023. It will double the target in the second half of the year. Its goal is to reach a capacity of one million electric cars on the continent by 2025.
In the meantime, Chevy has three more EVs on the way this year: the Silverado, Blazer, and Equinox. The brand will unveil its first full-size electric SUV, the Escalade IQ, on August 9.
