GM Pulls The Plug On Bolt EV
GM Pulls The Plug On Bolt EV | OilPrice.com
Oil Prices Slip As Banking Fears Return
Early signals of weaker demand…
Geopolitical shifts and China's dominance…
General Motors Chair and CEO Mary Barra announced that production of the Chevrolet Bolt EV and Bolt EUV would be halted by the end of 2023. This aligns with the GM's plan to transition the Bolt production line in Orion, Michigan, into manufacturing electric trucks.During a Tuesday morning earnings call with investors, Barra confirmed the seven-year run of the Bolt would come to an end and be retooled for electric truck production:
"We've progressed so far that it's now time to plan the end of Chevrolet Bolt EV and EUV production, which will happen at the end of the year."
GM's decision to kill Bolt production comes after a series of battery fires over the last few years and at least one major recall (read: "After Multiple Recalls, GM May Be On The Verge Of Ending Production Of Its Chevy Bolt").
Barra acknowledged the loyalty of Bolt owners but noted that some customers were furious by the EV's defects, which led to battery fires. GM had to recall 142,000 vehicles as a result. Some Bolt customers faced delays in receiving new batteries, while others could not drive their vehicles due to the fire risk. This manufacturing mishap hindered GM's progress in the EV market.
In 2023, GM has three new EV models for mass-market across the Chevrolet brand, including the Silverado truck, Blazer, and Equinox. The new models might rekindle GM's EV growth strategy after the Bolt fizzle.
By Zerohedge.com
More Top Reads From Oilprice.com:
Join the discussion| Back to homepage
ADVERTISEMENT
Related Knowledge Center: ENERGY BASICS: renewables
Renewable energy sources — once the fuel of the future, then practical in specific, narrow applications — are increasingly economic mainstream sources of power generation. Hydropower was long the mainstay of U.S. renewable electricity generation, although wind power surpassed hydro for the first time in 2019, and solar continues its rapid growth. The continued growth of wind and solar, with their fluctuations, is tied in part to improvements in storage technology: batteries.