General Motors (GM) has made an important decision to end production of its Chevrolet Bolt models by the end of 2023. The plant that currently makes the Bolt will be converted to produce electric pickup trucks, specifically electric versions of the GMC Sierra and Chevrolet Silverado pickup trucks. This move comes as GM shifts its focus to larger and more expensive electric vehicles based on its Ultium platform, which offers more flexibility, scalability, and performance than the older platform used by the Bolt EV and EUV.
The Bolt EV and EUV have faced several challenges in recent years, including low consumer awareness, limited availability, competition from other brands, and a major battery recall that affected all models due to fire risk. However, to boost sales and clear inventory, GM slashed the prices of the Bolt EV and EUV by several thousand dollars in 2021 and 2022, making them some of the cheapest electric cars available. These moves paid off, as the Bolt EV and EUV saw record sales in 2022 and 2023, with nearly 70,000 units expected to be sold this year.
Despite these record sales numbers, they are still far below GM’s ambitious targets for its new generation of electric vehicles that use its Ultium platform. To achieve its goals, GM plans to launch 30 new electric vehicles globally by 2025, with most of them using the Ultium platform.
The Orion Assembly plant in Michigan, where the Bolt EV and EUV are currently made, will be retooled to produce electric trucks starting next year. This means that the Bolt EV and EUV will be discontinued at the end of 2023.
The decision to discontinue the Bolt models represents GM’s shift away from hatchback-style vehicles and towards SUVs and pickup trucks, which are models that customers are increasingly favoring. However, challenges lie ahead for GM as it manages the transition from combustion engines to electric vehicles. The possibility of not fully utilizing factories for either type of vehicle could hurt profits.
In conclusion, GM’s decision to end production of the Chevrolet Bolt models by the end of 2023 and to retool the Orion Assembly plant to produce electric trucks is a significant move in its efforts to shift towards larger and more expensive electric vehicles.
The Ultium platform offers more flexibility, scalability, and performance, and GM expects to have an annual production capacity of 600,000 electric vehicles by next year. While challenges remain, GM’s commitment to electric vehicles is clear, and its future in the EV market looks bright.
