Production of the Chevrolet Bolt EV and Bolt EUV electric cars at the plant in Orion Township, MI, will come to an end in late 2023, General Motors CEO Mary Barra announced during the company's first-quarter earnings call.
According to the plan, through an investment of around $4 billion, the site will be prepared for all-new Ultium models---specifically the Chevrolet Silverado EV and GMC Sierra, all-electric pickups. Those new models are expected to enter production at the plant in 2024.
The good news for the plant is the overall EV production will increase. Employment is promised to triple next year. With another plant engaged in the Ultium platform, GM would like to increase its manufacturing output to 600,000 units annually---all BEV models.
On the other hand, in the short-term, consumers might lose access to a really affordable all-electric car. The starting price for the Bolt EV was just $26,500, and effectively less than $20,000 when deducting the federal tax credit.
This year, Chevrolet will launch two new Ultium-based electric cars, the Blazer EV this summer and the Equinox EV this fall, which will be the new entry-level BEVs from the brand. Those next-generation electric models are expected to be better in every way---bigger, with more range, power and features as well as faster charging---but probably also a slightly higher price point of around $30,000 for the base version.
The Chevrolet Bolt EV, later joined by the Bolt EUV version, was introduced in the U.S. in 2016. Since then, more than 161,000 have been sold. The Bolt EV/EUV achieved a huge sales record of 19,700 units in the first quarter of 2023. The target production and sales rate is 70,000 units per year globally, mostly in the U.S.
