Chevy Bolt Retires to Make Way for Equinox EV
Photo: Chevrolet
General Motors has announced plans to end production on the Chevrolet Bolt EV and Bolt EUV by the end of 2023. This move comes as the automaker shifts its focus to new Ultium electric vehicles like the Chevrolet Equinox EV — but it’s also happening right as sales are growing for the Bolt lineup. What are some of the factors underlying GM’s decision to end its first widely available all-electric vehicle?
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Popular but not profitable
After a few years of recall-related difficulties, the Chevy Bolt lineup has achieved a sharp increase in popularity. Sales grew 50% in 2022, and according to GM, the Bolt EV and Bolt EUV have also broken delivery records for the past three quarters.
Part of the reason for the Bolt’s improved sales is its affordability. GM cut the model’s starting price to $26,500 last year, and it continues to qualify for a $7,500 federal EV tax credit that lowers its cost even more. Because of this, GM can bill it as “America’s Most Affordable EV.”
While driving higher sales, the Bolt’s low price also means that the vehicle isn’t very profitable for GM — likely playing a big role in its discontinuation.
Photo: Chevrolet
Clearing the way for Ultium and the Equinox EV
Ending the Bolt will allow GM to focus production on new electric vehicles that — unlike the Bolt — are built on the newer, more advanced Ultium platform. For example, the plant in Orion Township, Michigan, that makes the Bolt is being converted to manufacture GMC Sierra EV and Chevy Silverado EV pickups instead.
To replace the affordably priced Bolt, GM is pinning its hopes on the Equinox EV, which will go on sale later this year. Along with more advanced tech than the Bolt and equal or greater driving range, the Equinox EV will come with a starting price around $30,000.
The Equinox EV will go on sale later this year. In the meantime, the Bolt EV and Bolt EUV remain available at dealerships around the country for any customers hoping to snap one up before they’re gone.
A longtime editor/writer and recently transplanted Hoosier, Caleb Cook lives in Xenia, Ohio. His favorite activities are reading and listening to music, although he occasionally emerges from the heap of books and vinyl records in his basement to stand blinking in the sunlight. Once fully acclimated to the outside world again, he can be observed hanging out with his wife, attempting a new recipe in the kitchen, attending movies, walking the dog, or wandering into a local brewery to inquire about what’s on tap. See more articles by Caleb.