General Motors (GM) is discontinuing the Chevrolet Volt, despite it being the most popular electric vehicle. Production is expected to end by the end of the year.
The Chevrolet Volt’s sudden retirement announcement was made at GM’s earnings call on Tuesday. GM’s assembly plant in Orion, Michigan, will continue to make electric vehicles, but will focus on his GMC Sierra and Chevrolet Silverado for pickup trucks. General Motors will eventually produce 600,000 electric trucks a year in the United States.
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Given the relative popularity of the Chevrolet Volt, GM’s decision to end production seems strange at first glance. First released in late 2016, the Volt was one of the first long-range electric vehicles aimed at the average driver and quickly became the best-selling non-Tesla branded electric vehicle in the United States.(opens in new tab).
In a letter to investors, GM chairman and CEO Mary Barra said the company delivered more than 20,000 EVs in the first quarter, increasing its EV market share by 8 percentage points. For consecutive quarters of records for the Chevrolet Volt EV and Volt EUV.” Increased deliveries and Cadillac LYRIQ sales. “
The demise of the Volt could open up opportunities for competitors such as Nissan to regain some of their market share through products such as the Nissan Leaf. GM also reported that first-quarter profit he fell 18.5%.(opens in new tab)After that, the stock fell more than 3% in response to the announcement.
The company has no intention of exiting the affordable EV market or its goal of an “all-electric future,” and is turning to the Ultium battery-powered Equinox EV to replace the Chevy Bolt.
“As the company continues to grow, [sic] With the EV portfolio featuring the Ultium platform, and construction continuing at its assembly plant in Orion Township, Michigan, in preparation for battery-electric truck production beginning in 2024, Chevrolet will begin production of the Bolt EV and EUV later this year. “Chevrolet plans to launch several new EVs based on the Ultium platform later this year in key segments such as the Silverado EV, Blazer EV and Equinox EV.
“The Volt EV passes the baton to General Motors’ new Ultium-EV technology. The all-new 2024 Equinox EV will compete in one of the industry’s largest and most competitive segments. Based on one of our products, it is expected to be one of the most affordable EVs in its class, with the Equinox EV launching this fall.”
The Chevrolet Volt is undeniably more popular than GM’s other electric vehicles, but it’s not without its problems. Approximately 69,000 Chevrolet Volts were recalled in 2020 due to battery fire hazards.The recall was expanded the following year to over 141,000 vehicles(opens in new tab) Entire model year 2017-2022.
Still, after fixing issues like this, Bolt offered a relatively low-cost option for drivers who wanted to get behind the wheel of an electric vehicle.
Updated: April 28, 2023 12:39 PM AEST This article has been updated with a statement from GM.