The chapter on the Chevrolet Bolt hasn’t closed yet, according to General Motors. News surfaced in April that the production of this cost-effective, popular EV and EUV will conclude this year, primarily due to its reliance on older battery technology and factory renovations. Yet, for those fond of the Bolt, General Motors has brought encouraging news – a revamped model is forthcoming.
As of now, General Motors remains tight-lipped about the specifics of the new Bolt, with more information expected later this year. As anticipated, the forthcoming model will be powered by GM’s Ultium battery system and the Ultifi software platform. By incorporating these advancements, GM intends to reintroduce the Bolt to the market in a swift manner, although a precise timeline remains undisclosed.
The announcement was made during GM’s quarterly earnings call, which reported the highest ever sales for Bolt EV and EUV in the first half of 2023. The company’s quarterly revenue surged 25 percent year-over-year to $44.7 billion, though it included a $792 million charge owing to a new alliance with LG. According to GM, this charge “reflects the conscious decision GM made during the Chevrolet Bolt EV and Bolt EUV recall to serve customers in ways that go beyond traditional remedies.”
In the initial half of 2023, GM manufactured approximately 50,000 EVs in North America, with plans to double this figure in the second half of the year. The ultimate goal is to reach a production capacity of 1 million EVs on the continent by 2025.
Meanwhile, Chevy is launching three other EV models this year: the Silverado, the Blazer, and the Equinox. The brand is also set to unveil its first full-size electric SUV, the Escalade IQ, on August 9th.
Frequently Asked Questions (FAQs) about Next-gen Chevrolet Bolt
Will the next-generation Chevrolet Bolt use the same battery technology as the current model?
No, the next-generation Chevrolet Bolt will use GM’s Ultium battery system and its Ultifi software platform, a departure from the older battery technology used in the current model.
Why did GM decide to continue with the Chevrolet Bolt?
GM decided to continue with the Chevrolet Bolt due to its popularity and cost-effectiveness. Although production of the current model will end due to its reliance on outdated battery technology and factory renovations, GM is planning to bring an updated version of the Bolt to the market.
When will the next-generation Chevrolet Bolt be released?
As of now, General Motors has not provided a specific timeline for the release of the next-generation Chevrolet Bolt. More details about the new Bolt are expected later in the year.
What is GM’s production target for electric vehicles?
In the first half of 2023, GM built approximately 50,000 EVs in North America and plans to double this number in the second half of the year. By 2025, the company aims to reach a production capacity of 1 million EVs in North America.
What other electric vehicles is Chevy launching this year?
Chevy is launching three other electric vehicles this year: the Silverado, the Blazer, and the Equinox. The brand is also set to reveal its first full-size electric SUV, the Escalade IQ, on August 9th.