Chevy Bolt EV to be discontinued in late 2023
GM has sold more than 161,000 Bolts in the U.S. The nameplate began as a hatchback and expanded to include a larger crossover called the Bolt EUV in 2021. Analysts have been expecting the vehicles to eventually make way for newer EVs.
“The size of the Bolt itself isn’t a popular size for the American consumer. It’s a little too small,” Sam Fiorani, vice president of global vehicle forecasting at AutoForecast Solutions, told Automotive News last year. “And with advances in battery technology and motor technology, they’re getting more mileage out of a charge and making the vehicles bigger. So the pricing and the battery range can move up a step and basically replace the Bolt with a smaller version of the Equinox.”
GM plans to start making the Silverado EV this year at the Detroit plant it calls Factory Zero. Shifting the Orion plant to Silverados and Sierras from Bolts will allow the company to make as many as 600,000 electric pickups annually.
The Bolt’s sales and image were hampered by a 2021 recall linked to battery fires. GM cut Bolt prices by about $6,000 last year in preparation for the 2023 launch of the Chevy Equinox EV, which will use Ultium batteries and have a starting price of about $30,000. That’s less than the Bolt cost before the price cut.