Chevy Malibu manufacturing will finish later this 12 months as GM prepares to launch new EVs, together with the extremely anticipated new Bolt EV.
Manufacturing of the present Chevy Bolt EV, GM’s top-selling electrical automobile, ended on the finish of 2023 because the automaker prepares for its subsequent wave of EVs.
GM CEO Mary Barra says the next-gen Chevy Bolt EV may have “a fair higher driving, charging, and possession expertise” with new tech and options. As the primary Ultium EV in North America to characteristic LFP batteries, the brand new Bolt is anticipated to stay a low-price chief.
Barra confirmed on the Automotive Press Affiliation in December (by way of Automotive Information) that the Ultium-based Bolt will relaunch subsequent 12 months.
Throughout an interview with Day by day Drive, GM’s CFO Paul Jacobson mentioned the corporate is conscious of the rising demand for inexpensive EVs. Jacobson defined this can be a massive purpose why GM is launching an Ultium-based Bolt reasonably than growing a wholly new platform.
The transfer will save GM billions, in line with its monetary chief. “We’ve acquired a extremely good product that prospects love,” Jacobson defined. “We will notice a few of the efficiencies of the Ultium platform utilizing LFP chemistry and expertise and make it extra worthwhile for us and considerably enhance the enterprise case for it.”
GM to retire Chevy Malibu with next-gen Bolt EV coming
As GM prepares for the brand new Chevy Bolt EV, it’s going to retire the long-lasting Malibu nameplate. Over 10 million Chevy Malibu fashions have been bought since 1964. It’s additionally Chevy’s solely automobile supplied within the US outdoors the Corvette because the automaker shifts to SUVs and crossovers.
GM plans to finish Chevy Malibu manufacturing in November because it prepares for its subsequent wave of electrical automobiles, together with the brand new Bolt EV.
GM additionally introduced it’s investing $390 million in its Kansas meeting plant to construct the brand new Ultium Chevy Bolt EV. Individually, GM mentioned Cadillac XT4 manufacturing will probably be paused after January 2025 on the facility till it begins to construct the Bolt eV on the identical meeting line in late 2025.
After shedding market share within the US EV market in Q1, GM hopes new fashions just like the Chevy Equinox, Silverado, and Blazer EVs will help it win it again within the second half of the 12 months.
GM accounted for six.2% of the US EV market by the primary three months of 2024, down from 6.9% in This autumn 2022 and eight.4% a 12 months in the past.
| Q1 2023 | Q2 2023 | Q3 2023 | This autumn 2023 | Q1 2024 |
| 8.4% | 5.4% | 6.6% | 6.9% | 6.2% |
The falling market share is because of Bolt EV gross sales slipping 64% YOY to only 7,040 within the first quarter. Though Ultium EV gross sales had been up 36%, complete EV gross sales fell over 20%, with the present Bolt being phased out.
Supply: Reuters
