Mary Barra, CEO of General Motors, suggests the reintroduction of a more affordable Chevrolet Bolt EV model, positioned below the upcoming Equinox EV crossover in terms of pricing.
During an interview on NPR’s Marketplace podcast, the CEO of GM expressed her fondness for the Bolt EUV, mentioning that she has been driving it for several months and thoroughly enjoys the experience. However, she acknowledged that as a second-generation EV, it incurs higher production costs compared to vehicles built on the third-generation Ultium platform, which offers a significant 40 percent reduction in battery costs.
Upon the initial unveiling of the upcoming Chevy Equinox EV, which is built on the advanced Ultium platform, there were speculations suggesting that it would replace the Bolt upon its release in Fall 2023. These predictions were based on an estimated starting price of approximately $30,000. However, recent developments indicate that this might not be the scenario, as there is a possibility of the Bolt EV making a comeback as an even more cost-effective electric vehicle option.
Given that GM has achieved a significant 40 percent reduction in battery costs through the implementation of the advanced Ultium platform, it is not out of the realm of possibility to expect a starting price of approximately $25,000 for a new-generation compact EV. This estimation is made without taking into account any potential tax credits or incentives, further emphasizing the potential affordability of such a vehicle.
With the impending retirement of the Chevy Bolt EV, it’s worth noting that it boasts an EPA-estimated range of 259 miles, while its slightly larger counterpart, the Bolt EUV, can cover up to 247 miles on a single charge, as confirmed by the EPA. Additionally, these compact cars have been identified by Kelley Blue Book as the most cost-effective EVs to own over a span of five years, making them an attractive proposition in terms of value for money.
The Bolt’s path has had its fair share of obstacles, as evidenced by General Motors’ decision to temporarily halt production of both vehicles in August 2021. This was in response to a significant battery recall that impacted approximately 142,000 units. However, production was successfully resumed in April 2022, marking a return to normalcy for the Bolt lineup.
