The Future of The Chevrolet Bolt: Bringing It Back for a Third Generation
Over the past year, rumors have been circulating about the future of the Chevrolet Bolt, General Motors’ all-electric hatchback. Last year, things seemed grim for the Bolt as GM was seemingly preparing to phase it out, but now there are indications that the Bolt may be making a comeback in a third generation. This article will explore the latest news about the Bolt’s future, how Chevrolet’s marketing strategy influences the naming of their EVs, and what it means for the future of electric vehicles.
Why The Bolt Disappeared and What It Could Mean For the Future
In April of 2022, General Motors confirmed that production of the Bolt would be ending that summer, putting an end to the popular electric hatchback. While many Bolt enthusiasts were perplexed by GM’s decision, CEO Mary Barra explained that it was due to the difference in battery costs and that GM would be introducing a new Ultium-based electric vehicle. It was also announced that an “affordable EV” under the next-generation Equinox would be introduced. But what would the unnamed entry-level EV be called?
What’s In a Name
As it turns out, the answer to what GM would call their new entry-level EV was right in front of us all along – Bolt. According to Chevrolet Chief Marketing Officer, Steve Majoros, one of the reasons for naming the new entry-level EV the Bolt is that there is already strong brand loyalty associated with the name. Majoros notes that in the early days of the Bolt, “It was conquering north of 85 percent, which means these were all people new to Chevrolet. And what you find in electric vehicles, there’s a tremendous amount of brand loyalty, but it’s really a propulsion decision. So if we can appeal to people based on the propulsion proposition they’re looking for, we can do it with a brand they’re familiar with, with brand names they’re familiar with, that works well for us.”
Bringing Back The Bolt
While the Bolt may have been discontinued, there are some key indications that it will be making a comeback. During an interview with NPR’s Kai Ryssdal, CEO Mary Barra revealed that she had been test-driving the Bolt and loved it. But perhaps most telling was her response when asked about the Bolt’s discontinuation: “So, I can’t say more because I don’t talk about future product programs, but, you know, it was mainly a move from the second generation to the third generation. But that is [an] important vehicle in our portfolio.”
Simply put, Barra’s response seems to suggest that the Bolt is going to be making a comeback and many EV enthusiasts believe that it will come in the form of a third-generation of the popular electric hatchback that leverages the benefits of GM’s Ultium platform.
An Electrifying Future
If the Bolt does make a comeback, it could have far-reaching implications for the future of the electric car market. While Tesla and their Model 3 are the current kings of the electric car market, Chevrolet could make a strong argument for producing an EV that is as affordable and practical as the Bolt while offering the kind of range, charging times, and technology that comes with the Ultium platform.
A potential third-generation Bolt could be the perfect car for consumers who are on the fence about buying an electric car but are attracted to affordable, practical cars that offer the kind of range and performance that they’re used to with gas cars.
Summary
While the discontinuation of the Chevrolet Bolt was a bit of a shock to the system for some EV enthusiasts, the news that it may be coming back in a third-generation is exciting. By leveraging the benefits of the Ultium platform and keeping the Bolt name, GM believes it can win over consumers who are on the fence about electric cars by offering them a familiar brand name that they know and love. It will be fascinating to see how the third-generation Bolt stacks up against the Tesla Model 3 and other affordable electric cars that are currently on the market. Regardless of how it stacks up, the return of the Bolt could have far-reaching implications for the future of the electric car market.
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Last year, before GM was ready to publicly acknowledge the death of chevrolet Bolt, the puzzle pieces pointed so clearly to that outcome that we wrote: “Tell me you’re killing Bolt without telling me you’re killing Bolt.” The automaker made it official in April of this year, saying dealers could order the popular electric hatch until this summer, production will end around Q3. But solving one puzzle starts another puzzle, and new pieces allow us to play the same game with GM from the opposite direction. That is, “Tell us you’re bringing back the Bolt without telling us you’re bringing the Bolt back.”
npr Market Podcast host Kai Ryssdal visited GM Warren Technical Center to chat with GM CEO Maria Barra about the automaker’s EV plans. Almost ten minutes later, Barra said that she has been driving a Bolt and she loves it. When Ryssdal asked why the company is removing the car, Barra replied: “Because it’s our second generation technology. The difference between our second generation and the third generation, which is Ultium, is a 40% reduction in battery costs. And we’re leveraging our vehicle names that are well-understood and well-known in the industry. The people, you know, who drive a Equinox Today you will understand what an Equinox EV is, what it offers you. But, you know, Bolt is something that has built up a lot of loyalty and fairness. So I can’t say more because I don’t talk about future product programs, but, you know, it was mainly a move from the second generation to the third generation. But that is [an] important vehicle in our portfolio”.
Ryssdal responded the same way we would have, saying, “Nudge nudge wink wink I guess.”
Let’s go back to that post from last year about the end of Bolt. GM had said that there will be a “more affordable EV” under the next Equinox planned to start at $30,000, which leads us to write that an EV placed under the Equinox EV is effectively a Bolt. One of the questions at the time was what GM would call this entry-level EV. No one expected, “Bolt”.
Echoes of the CEO’s comments to Ryssdal can be found in Chevrolet CMO sentiments Steve Majoros shared with automotive news in April. When Majoros talked about the move from the Bolt to the Equinox EV, he said A“Early, [the Bolt] It was conquering north of 85 percent, which means these were all people new to Chevrolet. And what you find in electric vehicles, there’s a tremendous amount of brand loyalty, but it’s really a propulsion decision. So if we can appeal to people based on the propulsion proposition they’re looking for, we can do it with a brand they’re familiar with, with brand names they’re familiar with, that works well for us.”
Electric vehicle buyers are familiar with the Bolt name. We think getting a refreshed Bolt on an Ultium platform, with all the benefits of range, charging, technology, MSRP, and the bottom line from GM that could mean the switch, would be a win for a large portion of auto market buyers. electrical.
Related video:
https://www.autoblog.com/2023/06/10/chevy-bolt-return-ultium-platform/
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