The Chevy Bolt will soon be bolting from General Motors assembly lines.
During GM’s earnings call on Tuesday, CEO Mary Barra told investors that the automaker will phase out production of its most popular electric car by the end of the year.
“We have progressed so far that now is the time to plan to end Chevrolet Bolt EV and EU production,” Barra told investors.
The announcement was somewhat of a surprise, as the Bolt has consistently been GM’s best seller. Electric vehicle. It is also among the most popular cars in the EV market. In a 2022 survey, Kelly Blue Book ranked the affordable Bolt as the fourth most purchased electric car in the US.
But the Bolt, which was launched in 2017, suffers from outdated technology. Car batteries have been known to burst into flames, causing G.M Recall the vehicle twice. GM believed it was wiser to unplug and upsize than to retool.
Related: General Motors and Honda form alliance to produce millions of electric cars
Making room for electric trucks
GM is cutting production of the Bolt to make room for more EV trucks, Barra said. The Michigan factory where the Bolt hatchback is built will be modified to accommodate the Chevrolet Silverado EV and electric GMC Sierra trucks running on the company’s Altium EV platform.
“We will need this capability as our trucks exceed our customers’ expectations, and we will demonstrate that function and the EV range are not mutually exclusive terms for Chevrolet and GMC trucks,” Barra told investors.
Bara added that the company will build 600,000 electric trucks per year, tripling the number of jobs.
Even though GM makes most of its money on gas-powered trucks, the company is doubling down on its commitment Electrification of its fleet. Two years ago, GM announced that it would phase out all gas and diesel-powered vehicles by 2035.
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