GM Announces New Chevy Bolt Model

If you were sad to see the Chevy Bolt go, this news is for you. Only three months after announcing the end of the Bolt with the current model, GM is now saying that a new Bolt model is in the works.

The Bolt was one of the top sellers at any given Chevy dealer last year, with its best sales figures yet. Not only that, but it’s on track to beat that record this year. Perhaps those numbers convinced GM to change course.

Second Generation Chevy Bolt On the Way

The GM CEO discussed how consumers really love the current Bolt and how it’s been delivering record sales numbers and some of the highest customer loyalty and satisfaction scores in the entire industry. The Bolt is a vital source of conquest sales for GM and the Chevrolet brand.

GM hasn’t provided a specific production timeframe, but it looks like the next generation Bolt will be an updated version of the current model instead of a brand new design with the GM Ultium EV platform. GM says that an updated model of the Bolt can be produced more quickly than if they were to use an all-new program. Instead, the Bolt will be updated with the new Ultium and Ultifi technologies.

The Current Model Ends This Year

However, it may be an extended period before you see any new Bolt models at your Chevy dealer. GM says that the current model will still be discontinued at the end of 2023, but there’s no launch date yet for the new Bolt. There’s also no word on whether it will still be built at the Orion Township, Michigan plant. When GM originally announced that the Bolt would be discontinued, the company said that it would revamp the plant to make EV pickups. The best guess is that the new Bolt might go into production at some point in 2024.

The Bolt’s Short Legacy

The Chevy Bolt originally launched back in 2017, not all that long ago, as one of the first mass-produced EV models with a range of over 200 miles. It beat the Tesla Model 3 to launch by a few months. Initially, the Bolt was a slow seller at Chevy dealers. The market for EV models wasn’t as big then as it is now. It also faced a significant setback with battery fires that resulted in a 2021 recall with all Bolts made up to that point

After the recall, new Bolts began arriving at Chevy dealers, but the price had been heavily discounted to draw in customers. The Bolt became a very rare bargain model on the EV market. The new Inflation Reduction Act also helped by giving a $7,500 tax credit for the Bolt, which further increased its appeal. This eventually led to record sales for the model in 2022 and it’s now set to outpace that in 2023.

Had GM gone with its plan to discontinue the Bolt, the Chevrolet Equinox EV would have become the flagship EV for the company. The Equinox EV starts at $30,000, roughly $3,500 more than the current Bolt model’s base price.