Almost a year ago to the day, General Motors revealed the revived Chevrolet Bolt for the 2027 model year. It was America's cheapest EV, though Chevy said at the time that it would be limiting production, bringing the Bolt back for only around 18 months. It seems that even that short timeframe was too long for GM, with Reuters reporting that the automaker will produce around 75 percent fewer Bolt EVs than originally planned before federal tax incentives were eliminated last year. The good news for potential buyers is that inventory is not expected to be exhausted for some time yet, but the drop in production is drastic.UAW Reveals Bolt's Production TimelineCole Attisha/AutoblogNews of the Bolt winding down production comes from local United Auto Workers union president Dontay Wilson, who revealed that the production facility in Kansas where the Bolt is assembled is on course to complete approximately 35,000 examples before the EV's story is brought to a close in the first quarter of 2027. Wilson learned of the change through a memo to union workers, which also revealed that almost 1,000 employees are being put on indefinite layoff, and says the plant was formerly projected to produce in the region of 150,000 units before moving on to next year's gas Equinox (currently built in Mexico), but GM, though still very much in the EV game, is reallocating some resources toward building more profitable gas engines.Related: GM Emerges as Biggest Winner From U.S. Fuel Economy RollbackThe automaker didn't provide much explanation for the change, only saying that it "continuously evaluate[s] market dynamics and customer demand," but it appears that GM was using the Bolt as a way to get more EVs out the door to take advantage of tax credits, and now that those tax credits are gone, the juice is no longer worth the squeeze. That leaves buyers with one fewer affordable option on the market, and given how high gas prices are, that's a pity. To be fair, GM only sold 4,224 Bolts through August, so we can understand why the automaker wants to optimize for stronger sellers.Autoblog's TakeCole Attisha/AutoblogIf it turns out that this report is numerically accurate and just 35,000 examples of the improved-for-2027 Chevy Bolt are made ($27,600, excluding $1,395 for destination), it will become a relatively rare car. When the Bolt abdicates, the crown of the cheapest EV in the U.S. will be worn by the Nissan Leaf, which currently sells for $29,990 (plus $1,495 for destination). Meanwhile, the next cheapest EV GM makes will be the Equinox EV ($34,995 before a $1,800 destination charge). If EV momentum gains steam again, and if affordable EVs, like those from Slate and REO, for example, prove popular, GM may well decide to reenter the space.