General Motors is officially ending production of its electric Chevrolet Bolt, CEO Mary Barra told investors in an earnings call Tuesday.
Introduced in 2017, the Bolt was the most affordable electric vehicle on the market, with a current starting price of $26,500. It was also one of only 11 models to qualify for the recently overhauled EV tax credit.
“When the Chevrolet Bolt EV launched, it was a huge technical achievement and the first affordable EV, which set in motion GM’s all-electric future,” spokesperson Cody Williams said in a statement, adding that the company will “continue to grow its EV portfolio.”
Production on both the Chevy Bolt EV and the larger EUV will wrap by the end of 2023, Williams said. The Michigan plant where the cars have been manufactured will start producing electric Chevy Silverado and GMC Sierra trucks in 2024.
Read more: Every Electric Vehicle That Qualifies for the $7,500 EV Tax Credit
The Chevy Blazer EV, a midsize SUV that will start at $44,995 and offer up to 320 miles of range, is expected in July. The Equinox EV, with 300 miles of range and a sticker price of around $30,000, is also expected later this year.
GM debuted the Bolt ahead of the Tesla Model 3, making it the first battery electric vehicle on the market for under $50,000 with a range of more than 200 miles. But reports from 2016 indicate the company expected to lose as much as $9,000 per car in order to be a market leader.
After accounts of its LG battery pack spontaneously catching fire, the Bolt was subject to a complete recall, and production was halted for the better part of a year.
In 2021, GM advised owners to park outdoors — and at least 50 feet away from other vehicles — “in the rare event of a potential fire.” (They were also discouraged from leaving Bolt EVs unattended while charging.)
The next generation of GM electric vehicles will utilize the company’s new Ultium battery, Williams said.
Read more: Tough New Emission Standards From the EPA Could Drive Up EV Sales
