The opposite shoe has dropped on GM’s determination to take its solely quantity EV mannequin out of manufacturing: a revised Bolt utilizing the brand new Ultium battery is coming.

Common Motors CEO Mary Barra mentioned this morning an up to date Chevrolet Bolt EV will come to market “on an accelerated timeline,” with new Ultium battery cells changing the LG Chem design used within the present mannequin. In April, GM mentioned the Bolt would exit of manufacturing by the tip of this 12 months.

The announcement of the up to date Bolt got here throughout GM’s second-quarter earnings name, on which Barra was questioned concerning the gradual rollout of the corporate’s long-awaited quantity EV lineup: Chevrolet Silverado EV full-size pickup truck, Chevy Blazer EV mid-size SUV, and Equinox EV small SUV. These automobiles, together with the GMC Hummer EV and Cadillac Lyriq, depend on manufacturing of latest Ultium battery cells from three new vegetation in Warren, Ohio; Spring Hill, Tennessee; and Flint, Michigan.

GM had anticipated manufacturing of these Ultium cells to ramp up a lot quicker, Barra mentioned. She cited delays in battery-pack manufacturing owing to delays by an “automation provider,” however offered no additional specifics.

Replace, not a clean-sheet design

“We are going to maintain the [EV] momentum going by delivering a brand new Bolt,” mentioned Barra. “And we are going to execute it extra rapidly [than] an all-new program, with considerably decrease engineering expense and capital funding, by updating the car with Ultium and Ultifi applied sciences and by making use of our ‘successful with simplicity’ self-discipline.”

Few different particulars are identified concerning the next-generation Bolt EV. GM mentioned solely, “Timing and particular particulars concerning the next-generation Bolt can be introduced at a later date.” A doable clue to a brand new design might are available a rendering posted on the GM Design Instagram feed late in April. The caption famous the “distinctive proportions and surfacing” of the sketch by Logan Phillips.

How GM suits its Ultium cells right into a car that will use some or a lot of the present Bolt’s understructure stays to be seen. The oblong Ultium cells utilized in North America seem too large to put in them within the two parallel rows seen within the Equinox and Blazer EVs. GM has lengthy touted the pliability of its Ultium cells, nonetheless, which might be packaged into modules of various shapes for every thing from low passenger and sports activities automobiles to tall full-size vehicles and SUVs.

“With GM struggling to scale-up its next-generation EV choices, course-correcting and never ending the Bolt’s future—which has achieved a kind of cult-classic standing—is a brilliant step,” mentioned Corey Cantor, senior affiliate for EVs at Bloomberg New Vitality Finance.

Bolt simply hitting its stride

A brand new Bolt makes rising sense on condition that the present fashions—one now in its seventh mannequin 12 months—are having their greatest 12 months to this point. In Could 2021, GM rolled out its bigger Bolt EUV model and recast the pair of Bolt hatchbacks as EV worth entries. However inside weeks, it needed to cease gross sales because of roughly a dozen Bolt battery fires. These in the end led to a recall of tens of 1000’s of automobiles to interchange their packs, for which LG Vitality Options in the end reimbursed GM the price of $1.9 billion.

This 12 months, although, GM famous that first-half gross sales of Bolt EV and Bolt EUV have been the strongest because the first deliveries of Bolt EVs in December 2016. From January by June alone, Chevrolet delivered 33,659 Bolts—in opposition to 38,000 for all of final 12 months. That first-half whole compares to 2,316 Lyriqs and a mere 49 Hummer EVs (a car going by its personal battery recall).

In different phrases, the Bolts made up the majority of GM’s EV gross sales for the primary half of the 12 months throughout which the Ultium fashions had been going to hit the market. On the decision, Barra confirmed the corporate’s purpose of fifty,000 EVs constructed (not offered) within the first half, plus an additional 100,000 from July to December.

Barra first telegraphed a brand new Ultium-based Bolt throughout a radio interview in June. It makes appreciable sense: It’s the corporate’s best-known EV nameplate, particularly now it’s not confused in showrooms with the discontinued Chevrolet Volt plug-in hybrid. And with Chevrolet now totally an SUV and truck model (excepting the largely ignored Malibu mid-size sedan), the Bolt was the one means Chevy might convey new prospects into the model. “Practically 70 p.c of patrons who’re buying and selling in a car for [a] Bolt are buying and selling in a non-GM product,” the corporate mentioned—and 80 p.c of them plan to remain loyal to Chevy.

Low-cost competitors from China?

Plans for an up to date Bolt might also have been spurred by the looks of the 2025 Volvo EX30 subcompact SUV. The 268-hp rear-drive mannequin of the EX30 sports activities a premium model, a claimed vary of 275 miles—and a beginning worth of $36,145. Word that quantity contains the 27.5-percent U.S. import responsibility levied on any car inbuilt China (Sweden’s Volvo is owned by China’s Geely).

Whereas GM has promised a “$30,000 Equinox EV” in some unspecified time in the future sooner or later, it’s not more likely to seem instantly. Slotting in a redesign Bolt under the Equinox EV lets Chevy proceed to supply an “entry stage” EV with a beginning worth akin to the present mannequin’s, presently $27,800.

“It’s no shock that GM is planning on maintaining the Bolt EV alive,” mentioned Jessica Caldwell, government director of insights at Edmunds. “Barra’s transfer acknowledges the truth that EV costs should transfer downward so as to encourage mass adoption. Center-income People presently face not solely excessive car prices but in addition excessive rates of interest. Whereas there may be presently a strong number of EVs at excessive costs, there are far fewer decisions on the decrease finish—the market area of interest the relaunched Bolt will fill.”

BNEF’s Cantor confused EV affordability as nicely. “In a number of quick years, the U.S. will see a extra aggressive EV market within the below-$35,000 worth vary—from automobiles together with Tesla’s next-generation EV and Volvo’s EX30. The Bolt, if upgraded correctly, will get a head begin from its present model title and lets GM occupy an vital area within the burgeoning entry-level EV market.”

However, Cantor warned, “The questions remaining are much less concerning the potential for a next-generation Bolt and extra about GM’s capability to scale its Ultium platform. This announcement reveals GM acknowledges the potential area its new EVs ought to occupy, however does nothing to alleviate the battery-related challenges the corporate continues to face.”

Supply: GM