To reach stated EV goals, GM needs the production capacity, profits and market positioning of its next-generation EVs. It doesn't believe it needs the Bolt.
DETROIT — After years of lackluster performance and a fire-provoked recall, the all-electric Chevrolet Bolt EV was finally gaining traction forAs America's cheapest EV following significant price cuts, U.S. sales of the Chevy Bolt were up more than 50% last year and the automaker said it would make a record 70,000 units in 2023.
"We have progressed so far that it's now time to plan to end the Chevrolet Bolt EV and EUV production, which will happen at the very end of the year," Barra told investors during an earnings call. GM is on a path to deliver single-digit profits off its EV portfolio by 2025, when it aims to have a production capacity of 1 million electric vehicles in North America.
"It was more sudden than I expected," said Michelle Krebs, executive analyst for Detroit-based Cox Automotive. "I thought it would go away at some point when new batteries came on and they went to more body styles, but it struck me as rather abrupt.
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