General Motors (GM) has confirmed that production of the Chevrolet Bolt EV and Bolt EUV will end by the close of 2024. These vehicles, which debuted in 2016, marked GM’s initial step into mass market electric vehicles, providing an affordable option with over 200 miles of range.
Despite their popularity, including being the third best-selling EV in the U.S. last year, the decision to discontinue them stems from GM’s transition to its more advanced Ultium battery platform.
The Bolt lineup, known for its affordability with a starting price of around $26,500, became a standout option in the EV market. Its range of up to 259 miles made it competitive against higher-priced alternatives.
However, the older battery technology underpinning the Bolt became a limiting factor, particularly after a high-profile recall in 2021 due to battery fire risks. GM aims to focus on next-generation vehicles built on the scalable Ultium platform, which supports diverse designs and improved efficiencies.
As GM phases out the Bolt, it is shifting attention to newer models such as the Chevrolet Equinox EV, expected to start at $30,000, and the luxury Cadillac Celestiq. This pivot highlights GM’s broader strategy to cater to a range of market segments while leveraging the flexibility of the Ultium platform.
The departure of the Bolt EV leaves a significant gap in the affordable EV market, with the Nissan Leaf as the only comparable sub $30,000 electric car. The discontinuation reflects the broader trend of rising EV prices, with the average cost now nearing $59,000.
Despite this, GM’s decision emphasizes its commitment to advancing EV technology and positioning itself as a leader in the transition to electric mobility.
