General Motors has had a change of heart, announcing the Chevy Bolt EV is not going away after all. Just four months after announcing plans to end production for the suddenly popular Bolt EV, GM CEO Mary Barra revealed that a next-generation is already in the works.
The fully-electric Bolt EV made its debut in 2017, drawing from the engineering of the hybrid-electric Volt, which was in production from 2011 to 2019. However, Chevrolet has been developing its new Ultium platform, featuring advanced and scalable lithium-ion battery technology. This platform will power their future electric vehicle lineup, including models from Cadillac, GMC, Chevrolet, and Buick.
The aging Bolt EV platform, while well-received, faced limitations with an EPA-rated range of 256 miles (412km) on a single charge and slow recharging speeds. The next-generation model will be built on the new Ultium platform, which will deliver improved range and charging capabilities.
In making the announcement, Barra highlighted the next-gen Bolt will be developed in a short time frame, but failed to provide a release date.
“Our customers love today’s Bolt. It has been delivering record sales and some of the highest customer satisfaction and loyalty scores in the industry. It’s also an important source of conquest sales for the company and for Chevrolet. We will keep the momentum going by delivering a new Bolt…and we will execute it more quickly compared to an all-new program with significantly lower engineering expense and capital investment by updating the vehicle with Ultium and Ultifi technologies and by applying our ‘winning with simplicity’ discipline,” Barra said
Chevrolet plans to accelerate the timeline for the introduction of the next-gen Bolt. Their decision comes in the wake of the Bolts experiencing a surge in demand in late 2022, thanks to local electric vehicle incentives and a substantial price reduction.
Additionally, the federal tax credit for the Bolt was revamped in 2023, making it eligible for a tax credit of up to $7,500, further boosting its appeal to potential buyers.