Hopes were soon dashed this year, though. In April GM let word slip that it would discontinue the Bolt by the end of 2023. The news was accompanied by a swirl of speculation, with CNBC among those attributing the decision to concerns that the Bolt had lost its place in GM’s plans for profitability.
As for what sparked the turnaround, a closer look at the factors behind sales of the Bolt provide a hint. In a press release from GM’s Chevrolet branch, CEO Mary Barra notes that the Bolt has been “delivering record sales.” Record sales don’t necessarily reflect profitability, but Barra goes on to say that the Bolt is “an important source of conquest sales for the company and for Chevrolet.”
GM may be thinking that a smaller, more affordable EV would provide first-time EV buyers with a more approachable introduction to all-electric technology, the idea being that when they’re ready to consider a gigantic electric pickup truck that they may or may not particularly need, a Silverado would be in their radar.
“Timing and specific details about the next-generation Bolt will be announced at a later date,” they reminded us.CleanTechnicaIn the new announcement, GM affirmed its commitment to home energy storage systems that can be recharged from an electric vehicle.
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