LOS ANGELES, CALIFORNIA – NOVEMBER 18: The all-electric Chevrolet Equinox EV is on display at the … [+]
The Chevy Bolt EV had been the answer to many first-time EV buyers dreams: an affordable EV with decent range.
But with GM deciding to discontinue the Bolt — which starts at under $27,000 — the next best thing appears to be the upcoming Chevy Equinox EV.
“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,” a GM spokesperson told me.
The Equinox will start at $30,000. Range estimates are between 250 and 300 miles depending on trim, according to reports. The Bolt’s range is an EPA-rated 259 miles.
(See a gallery of the Equinox EV here.)
Why kill a popular EV?
The Bolt is being killed despite a jump in sales. In the first quarter of this year, sales for the Bolt were just shy of 20,000, posting its best quarterly sales ever.
This is undoubtedly driven by the low starting price and an available $7,500 tax credit, bringing the price potentially below $20,000.
But GM has its reasons, according to an analyst at Edmunds.
“The discontinuation of the Bolt & Bolt EUV seems largely based on changing production priorities as GM works to revamp its entire lineup to current-generation technology using the modular Ultium platform,” Joseph Yoon, Edmunds’ consumer insights analyst, told me in an email, referring to GM’s new battery technology.
“We have progressed so far, that it’s now time to plan to end the Chevrolet Bolt EV and EUV production, which will happen at the very end of the year.”
—General Motors CEO Mary Barra, April 25, 2023 earnings call
GM won’t stop making cheap EVs, Yoon says.
“It seems unlikely that GM is giving up on cheap EVs,” he said. And that’s why GM is focused on getting the Equinox and Blazer EV to market, according to Yoon.
While the cheapest version of the Equinox is coming, a pricier version is expected to debut first, later this year. The Blazer EV, on the other hand, will start at around $45,000.
2021 Chevy Bolt EV near the town of Mojave, Calif.
Stay connected with us on social media platform for instant update click here to join our Twitter, & Facebook
We are now on Telegram. Click here to join our channel (@TechiUpdate) and stay updated with the latest Technology headlines.
For all the latest Automobiles News Click Here