GM CEO Mary Barra has suggested the Bolt is critical to the conglomerate's continued success.
Speaking with Marketplace podcast host Kai Ryssdal, General Motors CEO Mary Barra has suggested that the Chevrolet Bolt may yet live on, saying it's an “important vehicle” in the automaker's portfolio. This slightly contradicts what the conglomerate has said about the vehicle before.
In April this year, Chevrolet chief marketing officer Steven Majoros said that although the Bolt had “been a phenomenal product,” it was time to move on. It was a conquest vehicle for the automaker intended to lure the EV curious to a new type of GM vehicle and was never expected to be a long-lasting and popular cornerstone of its EV push.
But now it seems that GM is rethinking whether killing off the Bolt is a good idea, perhaps because it has more fans than Chevy realized.
Ryssdal was at GM's Warren Technical Center speaking with Barra, explaining that she had been driving a Bolt and loved the experience, which led to her asking why such a great little EV would be killed off.
“Because it's our second-generation technology,” responded Barra. “The difference between our second generation and third generation, which is Ultium, is a 40% reduction in battery costs.” She went on to explain that legacy model names like Equinox are easily understood by GM buyers, which should make an Equinox EV easier to sell. Majoros, who we referenced at the outset, made similar comments about how names long familiar to buyers are easier to market.
As Barra concedes, Bolt is now one of those easily-recognized names: “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.”
What this boils down to is that GM produced the Bolt as a way to gauge the market's reception to an affordable electric vehicle. That car helped spearhead development in new-age EVs like the GMC Hummer EV, the first GM product with Ultium batteries. Now that Ultium batteries are being scaled and shared among other offerings like the Chevrolet Silverado EV, Cadillac Lyriq, and Chinese-made Buicks, the cost-per-vehicle of those batteries is somewhat diminished, making the third-generation battery tech suitable for an EV with a low price point, like the Bolt and Bolt EUV.
GM always knew that its EVs would take years to turn a profit, but the news that a new Bolt may not be too far off may accelerate the moneymaking process.
If Chevy can introduce an EV with around 300 miles of range and access to a huge charging network for well under $30,000 within the next two years, it could have an edge in competing with Tesla's sales volumes.
Keyword: Chevrolet Bolt Could Live On With Ultium Batteries