GM Pulls The Plug On Bolt EV

By ZeroHedge - Apr 26, 2023

General Motors Chair and CEO Mary Barra announced that production of the Chevrolet Bolt EV and Bolt EUV would be halted by the end of 2023. This aligns with the GM's plan to transition the Bolt production line in Orion, Michigan, into manufacturing electric trucks. 

During a Tuesday morning earnings call with investors, Barra confirmed the seven-year run of the Bolt would come to an end and be retooled for electric truck production: 

"We've progressed so far that it's now time to plan the end of Chevrolet Bolt EV and EUV production, which will happen at the end of the year."

GM's decision to kill Bolt production comes after a series of battery fires over the last few years and at least one major recall (read: "After Multiple Recalls, GM May Be On The Verge Of Ending Production Of Its Chevy Bolt").

Barra acknowledged the loyalty of Bolt owners but noted that some customers were furious by the EV's defects, which led to battery fires. GM had to recall 142,000 vehicles as a result. Some Bolt customers faced delays in receiving new batteries, while others could not drive their vehicles due to the fire risk. This manufacturing mishap hindered GM's progress in the EV market.

In 2023, GM has three new EV models for mass-market across the Chevrolet brand, including the Silverado truck, Blazer, and Equinox. The new models might rekindle GM's EV growth strategy after the Bolt fizzle.

By Zerohedge.com