DETROIT— general motors plans to end production of its electric Chevrolet Bolt models by the end of this year, CEO Mary Barra told investors Tuesday when discussing the company’s plans. first quarter earnings.
The Chevy Bolt EV and EUV, a larger version of the car, make up the vast majority of the company’s electric vehicle sales to date. However, the battery cells in cars have an older design and chemistry than the automaker’s newer vehicles, such as the GMC Hummer and Cadillac Lyriq, which use GM’s Ultium architecture.
Barra said a suburban Detroit plant that has produced Bolt models since 2016 will be revamped in preparation for electric truck production scheduled for next year.
There is irony in the moment Bolt was fired. It comes amid record production and sales of the vehicle to mass-market consumers, which was GM’s initial goal.
The company plans to produce more than 70,000 of the vehicles this year as it aims to sell more than 400,000 EVs from early 2022 to the middle of next year in North America.
GM pushed the Bolt ahead of the Tesla Model 3 in 2016. The two were considered to be the first long-range electric vehicles designed for mainstream drivers, with a starting price of around $35,000.
But Bolt’s sales never achieved the success expected by many executives, as overall EV sales remained minuscule outside of Tesla. The Bolt also suffered a major setback more recently, as GM recalled all Bolts produced due to a supplier-related battery issue.
“When the Chevrolet Bolt EV launched, it was a great technical achievement and the first affordable EV, launching GM’s all-electric future,” Chevy spokesman Cody Williams said in a statement. “Chevrolet will launch several new electric vehicles later this year based on the Ultium platform in key segments, including the Silverado EV, Blazer EV and Equinox EV. ”
GM expects to roll out its next electric vehicles much faster than its high-end Hummer and Cadillac Lyriq models, which have been rolling out at a snail’s pace compared to its traditional vehicles.
Barra said that when the Orion, Michigan plant that currently produces the Bolts reopens and reaches full production, employment will nearly triple and the company will have the capacity to build 600,000 electric trucks a year.
GM has set a goal of reaching a production capacity of 1 million electric vehicles a year in the US and China each as it tries to catch up with industry leader Tesla.