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Analysts have long predicted that GM eventually would stop producing the Bolt, which runs on an older type of battery. But the news will disappoint some EV drivers who have given the Bolt a devoted niche market since the car’s launch in 2016. Bolt EV and EUV were GM’s top-selling electric vehicles last year, helping the company sell more than 20,000 EVs in the United States in the most recent quarter.
“When the Chevrolet Bolt EV launched, it was a huge technical achievement and the first affordable EV, which set in motion GM’s all-electric future,” the company said in a statement.
With a starting price around $27,500, the Bolt EV is one of few electric options under $30,000 on the U.S. market. The vehicle’s reputation suffered a setback after roughly a dozen battery fires prompted a large recall in 2021. But price cuts last year helped juice demand again, as did a $7,500 federal tax credit for which the Bolt qualifies.
Bolt owners on a popular online forum, ChevyBolt.org, expressed disappointment with Tuesday’s news. Other drivers said it was unwise of GM to ditch a brand that had developed a loyal following.
“A moniker like the Bolt is very difficult to just spawn at will,” read one forum post. “People who are genuinely excited for the product are attaching brand loyalty to GM.”
GM says it is investing $35 billion globally through 2025 in electric and autonomous vehicles, with the goal of selling only EVs by 2035. Much of that money is going into vehicle and battery factories in Michigan, Tennessee and Ohio.
On Tuesday, GM announced a fourth U.S. battery plant that it will build with partner Samsung, saying the two companies will spend $3 billion on the facility, which is to begin production in 2026. They did not disclose the plant’s location.
Without the Bolt, most of GM’s other EVs will be large and pricier vehicles. That category includes the Silverado truck, the Cadillac Lyriq and GMC Hummer. The company also has pledged to introduce an electric version of the more modestly sized Equinox SUV this fall, with prices starting around $30,000.