GM CEO Teases Return of Entry-Level Chevrolet Bolt EV in Near Future
Mary Barra, the CEO of General Motors, has suggested that the entry-level 2023 Chevrolet Bolt EV may make a comeback soon. This new version would be priced lower than the Chevy Equinox EV crossover that is set to release soon.
The head of GM shared that she's been driving a 2023 Chevrolet Bolt EUV and is really happy with it. But, as the Bolt EUV is a second-generation electric vehicle, its production costs are higher than the third-generation Ultium platform. GM aims to replace the Bolt EV and Bolt EUV by the end of the year with the Ultium platform which can reduce battery costs by 40%.
Last year, Chevy announced the Ultium-based Equinox EV which some experts speculated would replace the Bolt when it hits the market in Fall 2023. It was estimated to have an MSRP of around $30,000. However, it appears that the Bolt EV might make a comeback as an even more cost-effective battery-electric vehicle. GM's Ultium platform boasts a 40 percent reduction in battery costs compared to the current Bolt EV's second-generation battery. With this in mind, a starting price of approximately $25,000 for a state-of-the-art compact EV seems plausible, even without tax credits or incentives.
The Chevrolet Bolt EV, which is about to be retired, can travel up to 259 miles on a single charge, as per the EPA. On the other hand, the Bolt EUV, which is slightly larger, can go up to 247 miles on a single charge. Both of these compact cars are the most affordable electric vehicles to possess over a five-year period, which is a great deal.
If you're curious about the latest updates on GM's decision to cease production of the Chevy Volt, feel free to check out our article titled "GM to Stop Chevy Bolt EV and EUV Production by Year-End!"
