Wait, what? Is General Motors really discontinuing the Chevy Bolt EV and EUV? Especially The Chevrolet Bolt EV, which is the automotive manufacturer's most popular electric vehicle. Yeah, the one that serves as the preferred entry-level electric car for some and an affordable yet practical eco-friendly chariot for others. It might seem perplexing to some that one of the most successful American auto companies would suddenly retire its record-selling Chevrolet Bolt duo — the very revenue-driving electric vehicles that the GM CEO Mary Barra once praised as a "real game-changer" for both the company and the EV industry. But if we move past the affordability, respectable range, adaptability, and growing popularity of the Chevy Bolt EV or the SUV-inspired Bolt EUV, the discontinuation has the potential to spur further advancements in electric vehicles from GM and inspire competition to fill the void with even better-performing, safer, and affordable EVs. And while the Chevy Bolt pair enjoyed significant success in the market, let's not forget that these vehicles were not without their fair share of issues. By that, we mean real issues, particularly the ones that turned into a major crises for the company.
More Than A Bumpy Road For The Chevy Bolt EV
General Motors launched the 2017 model of the Chevrolet Bolt EV and proudly presented it as America's most affordable electric vehicle (even the price of the 2023 Bolt EV starts at $27,495). At the time, the Bolt was a massive technical achievement that certainly helped pave the way for the company's electric future. The Bolt, aimed at everyday drivers and first-time electric vehicle buyers previously deterred by the high EV prices, quickly gained traction. So much so that it has propelled GM to secure the second spot in U.S. electric vehicle sales behind the mighty Tesla. So far so good, right? Unfortunately, that was just the bright side of the story.
There are reasons many people didn't like the Chevy Bolt EV and EUV. You see, Chevrolet Bolt electric car owners have been facing problems with their EVs for quite some time. From recalls due to insufficient braking performance to powertrain malfunctions, these concerns (though genuine and alarming) did not significantly hamper the Bolt EV's sales. However, the situation changed when the "potentially fire-causing" issue emerged in the form of two rare manufacturing defects in the batteries. Consequently, GM had to issue a recall of almost 69,000 Chevy Bolts in 2020. As if it wasn't a huge setback for the automaker, the company had no other option but to expand the recall in 2021 by adding 73,000 more electric vehicles (across model years 2017-2022). The combined cost of these recalls? A whopping $2 billion. Just let that figure sink in.
In response, the Detroit-based automaker halted the production of both Bolts for about six months and fixed the problem by replacing battery modules in all the electric vehicles. Additionally, the prices of the Bolt EV and Bolt EUV were significantly reduced, making them the most affordable electric cars with a range of over 250 miles. While this move successfully lured in new customers and led to Chevy Bolt's best sales ever, GM might be aware that the problem could resurface in the future. And then there is the temptation to make more revenue-generating and better-performing electric cars that can compete in the ever-evolving EV market. So, it is no surprise GM has (eventually) decided to discontinue Chevy Bolt EUV and EV at the end of 2023.
Chevy Bolt EV Sacrifices Itself For Other EVs
It's only natural that some may feel disheartened by General Motors' decision to phase out the beloved Chevy Bolt EV and EUV. For those people, somewhat consoling news is that GM plans to build 70,000 Bolts in 2023. Only time will unfold the consequences of this move, but we choose to remain optimistic. And it seems like GM has much bigger goals planned for the upcoming years. Goals that revolve around using the next-generation Ultium EV platform to expand the production of electric trucks and SUVs. "Chevrolet will launch several new EVs later this year based on the Ultium platform in key segments, including the Silverado EV, Blazer EV, and Equinox EV," a GM spokesperson told Mashable.
GM already announced in 2022 that it would invest $4 billion in its Orion Township Assembly plant to leverage the Ultium EV platform to manufacture the electric GMC Sierra and Chevrolet Silverado EV. Furthermore, the company's ambitious strategy includes engaging Orion and Detroit-Hamtramck Assembly plants to manufacture over 600,000 BEV models a year by the end of 2024. Also, GM CEO Mary Barra announced that the company plans to triple its workforce to achieve these numbers.
As far as the replacement for the Chevy Bolt EV is concerned, GM has high hopes for the 2024 Chevrolet Equinox EV." The Bolt EV passes the baton to the new Ultium-EV technology of General Motors. The all-new 2024 Equinox EV competes in the largest and one of the industry’s most competitive segments. Based on current competitive offerings, it is expected to be one of the most affordable EVs in its class. Equinox EV launches this fall," said a GM spokesperson. It is expected that the price of the Equinox EV (built on Ultium platform) will start at around $30,000.
Viable Options Beyond The Chevy Bolt EV
In light of the Chevy Bolt discontinued announcement, people seeking an affordable electric car with a range of over 250 miles must now explore other options. Fortunately, alternatives exist, although they may require some trade-offs in the form of settling for a shorter range or paying a higher price. But, the good news is that buying a Chevrolet Bolt EV replacement won't break the bank. For instance, you can consider buying the all-impressive 2023 Hyundai Kona Electric, which starts at $34,885 and offers a range of 258 miles. Also, the Tesla Model 3 stands out as a fantastic choice for an affordable electric car, boasting a 272-mile range and a price tag of around $35,000 after federal tax credit.
Alternatively, you can wait for the 2024 launch of the Chevrolet Equinox EV, which is expected to cost approximately $30,000 and deliver over 250 miles of range. Tesla's highly anticipated Model 2, with a projected $25,000 price point, is another option to keep an eye on. And if you're still looking for the closest affordable electric car to the Chevy Bolt EV, consider the Nissan Leaf S, priced at $29,135. However, keep in mind that the Nissan Leaf S offers a modest range of just 149 miles. As you explore Chevy Bolt alternatives, the choice ultimately hinges on whether you prefer to wait for the launch of another affordable electric vehicle or pay a bit more for better-performing and value-for-money models currently available. We'd recommend going with the second option!