General Motors (GM) CEO Mary Barra announced that the company will be halting production of its popular electric Chevrolet Bolt models by the end of this year. The Bolt EV and EUV models currently account for the majority of GM’s electric vehicle sales. However, the battery cells used in the cars are of an older design and chemistry compared to the company’s newer electric models, such as the GMC Hummer and Cadillac Lyriq, which use GM’s Ultium architecture.
GM is preparing to re-tool its suburban Detroit plant, which has produced Chevy Bolts since 2016, for the production of electric Chevy Silverado and GMC Sierra trucks scheduled for next year. The timing of the Bolt’s retirement is ironic, given its record sales and production of the car for mass-market consumers, which was GM’s initial goal.
GM Plans to Launch More EVs Based on Ultium Platform and Reach Production Capacity of 1 Million EVs Annually
GM aims to produce over 70,000 Bolt models this year and hopes to sell more than 400,000 EVs in North America from early 2022 through mid-next year. The company plans to launch several new EVs later this year based on the Ultium platform in key segments, including the Silverado EV, Blazer EV, and Equinox EV.
GM has set a target to reach production capacity of 1 million EVs annually in the U.S. and in China as it attempts to catch up to industry leader Tesla. When the Orion, Michigan, plant, which currently produces the Bolts, reopens and reaches full production, employment will nearly triple, and the company will have the capacity to build 600,000 electric trucks annually. The Bolt models, starting under $30,000, are currently the least expensive new electric vehicles on sale in the U.S. GM’s upcoming Equinox EV is expected to have a similar starting price when it is released this fall.
Leave a Reply