13Jun
I won’t Discuss Future Programs… But Bolt Is An Important Vehicle In Our Portfolio – GM CEO Mary Barra
Mary Barra, the CEO of General Motors, recently discussed the potential return of the entry-level Chevrolet Bolt EV in the near future.
In an interview on NPR's Marketplace podcast, she mentioned that she has been driving a Bolt EUV for several months and loves it, but the current models are second-generation EVs, which have higher production costs compared to the third-generation Ultium platform.
Barra also pointed out that the Ultium platform brings a 40 percent reduction in battery costs. Due to the cost advantages of the Ultium platform, the current Bolt EV and Bolt EUV models will be retired by the end of the year.
Despite still offering great value for money almost seven years after its production began in 2016, with a starting price of $26,500 (around ₦13 million, using the official exchange rate and excluding destination charge), General Motors plans to phase out these models.
Interview Excerpts:
GM CEO Barra: So I’ve been driving a Bolt EUV for several months before that. Absolutely love it.
Interview host Ryssdal: So why are you stopping making it?
Barra: Because it’s our second-generation technology. The difference between our second generation and third generation, which is Ultium, is a 40% reduction in battery costs. And we’re leveraging the names of our vehicles that are well understood and known in industry. People, you know, who drive an Equinox today will understand what an Equinox EV, what that delivers to them. But, you know, Bolt is something that has built up a lot of loyalty and equity. So I can’t say more because I don’t discuss future product programs. But, you know, it was primarily a move from second generation to third generation. But that’s [an] important vehicle in our portfolio.
Related: These Are The Top-Ten Cheapest Electric Cars Money Can Buy Right Now
The new entry-level Chevrolet Bolt EV is expected to be priced below the upcoming Equinox EV crossover.
Last year, there were speculations that the all-new Chevy Equinox EV, which is based on the Ultium platform, would replace the Bolt when it hits the market in Fall 2023 with an estimated price of $30,000.
However, recent reports suggest that the Bolt EV might make a comeback as a more affordable battery-electric vehicle.
With the Ultium platform, GM has managed to lower battery costs by 40 percent compared to the second-generation battery that powers the current Bolt EV.
As a result, it is possible that the latest-gen compact EV could have a starting price of around $25,000, without any tax credit or incentive.
The Bolt EV, which is set to be retired soon, has an EPA-estimated range of 259 miles, while the slightly larger Bolt EUV can travel up to 247 miles on a single charge, according to the EPA.
Kelley Blue Book recently found that the Bolt and Bolt EUV are the least expensive electric vehicles to own over five years, making them a great value for money.
However, the Bolt's journey has not been without bumps, as General Motors had to halt production of both models in August 2021 due to a massive battery recall that impacted around 142,000 units. Production resumed in April 2022.
We would love to hear your thoughts on this news. Feel free to share your opinions of the Bolt's possible return in the comments section below.
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