General Motors’ Q3 2023 earnings call brought both challenges and positive developments in the world of electric vehicles. GM’s CEO, Mary Barra, addressed the status of the next-generation Chevrolet Bolt EV, emphasizing the company’s strategic approach.
While acknowledging previous speculation about the new Bolt EV, Barra clarified that GM’s intention is to build upon the brand’s strong reputation and do so with maximum efficiency. GM has modified its plans, moving away from a $5 billion investment in multiple new entry-level EVs, including the Bolt EV, and opting to leverage the successful attributes of the current Bolt EUV, as well as the Ultium platform, advanced software, and NACS (National Active Chassis System).
Barra shared that the next-gen Bolt EV will offer an enhanced driving, charging, and ownership experience, aligning with customer preferences. Notably, the upcoming Bolt will be equipped with a lithium-iron-phosphate (LFP) battery pack, a significant shift from the previous Bolt’s battery technology. Barra did not provide specific range estimates for the new model, leaving room for curiosity about its capabilities compared to the current Bolt, which offers up to 259 miles EPA range for the hatchback and 247 miles EPA range for the crossover.
The adoption of an LFP battery pack will contribute to cost savings and efficiency improvements. GM anticipates launching the next-generation Bolt at least two years sooner than previously planned, reducing capital and engineering expenses while achieving lower unit costs.
Mary Barra highlighted that this deployment marks GM’s first use of LFP technology within the Ultium platform in North America.
