GM’s Bolt EV is being phased out at the end of the year, but it’s expected to be revived as an even better, lower-cost EV soon.
Many were disappointed to learn GM’s Bolt EV, one of the most affordable electric cars in the US, would end production at the end of the year.
GM’s CEO Mary Barra confirmed the automaker is planning an Ultium-based Bolt EV successor this summer following the positive response. Current production occurs at its Lake Orion plant in Michigan, but GM is phasing it out to make room for the Chevy Silverado EV.
Barra explained on the company’s third-quarter earnings call that the new Bolt will be “an even better EV” with engineering and manufacturing improvements.
One of the biggest changes includes an LFP battery. The next-gen EV will be the first Ultium-based EV to receive LFP batteries, which is expected to lower the price tag.
The company has yet to set a launch date, but according to sources, the new Bolt EV could be part of GM’s agreement with the UAW within the next few years.
GM’s Bolt EV expected as part of the UAW agreement
GM’s next-gen Bolt is expected to be built at its Fairfax, Kansas plant, sources familiar with the matter told Reuters.
According to the report, GM is considering building the Bolt EV at its Fairfax plant and a new series of premium electric models from Cadillac and Chevrolet at its Lansing Grand River plant in Michigan. The new series would also include an all-electric performance Corvette model.
The news comes as part of a new tentative agreement between GM and the UAW. The deal includes historic 25% wage increases, better retirement and healthcare, and other benefits.
GM expects to invest $1.25 billion into its Lansing Grand River and $391 million into its Fairfax plants.
The automaker is considering building the next-gen Bolt EV at the Fairfax plant in 2025. Other Cadillac and Chevy EVs would be built at Lansing starting in 2027.
GM currently produces ICE vehicles, including the Chevy Malibu and Cadillac CT at Fairfax and the Chevy Camaro at the Lansing plant, alongside the Cadillac CT4 and CT5 models.
The news comes shortly after GM announced it would delay production of the Chevy Equinox, Silverado RST, and GMC Sierra Denali EVs.
With the Equinox EV pushed back, GM will need an affordable EV option to fill the gap. It would be smart to continue building the current model until the Equinox EV is ready to launch. Otherwise, GM risks losing market share to rivals like Kia, Hyundai, and Volvo, which are launching new, advanced EVs.
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