Production of the Chevrolet Bolt EV and Bolt EUV electric cars at the plant in Orion Township, Michigan will come to an end in late 2023. General Motor's CEO Mary Barra announced the news during the company's first-quarter earnings call.
The latest 2023 model year versions are among the most affordable BEVs on the market, especially when deducting the $7,500 federal tax credit. The Bolt duo still offers a decent range of around 250 miles. The very high competitiveness of the Bolt EV/EUV was recently highlighted by a huge sales record of 19,700 units in the first quarter of 2023. The target production and sales rate is 70,000 units per year globally (mostly in the US).
However, the Chevrolet Bolt EV/Bolt EUV, after recovering from the massive battery-related recall (production resumed in April 2022), will not stay with us very long because GM intends to switch to Ultium-based electric vehicles.
According to the plan, the company will stop production of Bolts in Orion Township, Michigan before the end of 2023. Through an investment of around $4 billion, the site will be prepared for all-new Ultium models - specifically the Chevrolet Silverado EV and GMC Sierra, all-electric pickups. Those new models are expected to enter production at the plant in 2024.
The good news for the plant is that the overall all-electric car production will increase. Employment is promised to triple next year. With another plant engaged in the Ultium platform, GM would like to increase its manufacturing output to 600,000 units annually (all BEV models).
On the other hand, in the short-term, consumers might lose access to a really affordable all-electric car. The starting price for the Bolt EV was just $26,500 (+$995 DST), and effectively less than $20,000 when deducting the federal tax credit.
|Model||Base Price||Dest. Charge||Tax Credit||Effective Price|
|2023 Chevrolet Bolt EV 1LT 17-inch||$26,500||+$995||$7,500||$19,995|
|2023 Chevrolet Bolt EUV LT 17-inch||$27,800||+$995||$7,500||$21,295|
|2023 Chevrolet Bolt EV 1LT 17-inch||FWD||65||259 mi |
|2023 Chevrolet Bolt EUV LT 17-inch||FWD||65||247 mi |
Those next-generation electric models are expected to be better in every way - bigger, with more range, power, and features as well as faster charging - but probably also a slightly higher price point of around $30,000 for the base version.