The Bolt, GM's best-selling EV, is being revived despite its almost discontinuation.

• Bolt production was originally set to end permanently in December, but a sudden increase in sales prompted GM to revise its plans and update the Bolt EV.
• Mary Barra, CEO, announced that the revised Bolt will feature LFP batteries, a Tesla-style charging port, new motors, and software.
• GM hasn’t yet said when the new Bolt will arrive.

In July, General Motors surprised investors and electric vehicle enthusiasts by announcing that the Chevrolet Bolt EV would be updated instead of being discontinued at the end of 2023, as previously planned.

On Tuesday, during GM's earnings call, CEO Mary Barra disclosed additional information about the reasoning behind keeping the Bolt and gave hints about what Bolt enthusiasts can anticipate when the updated EV becomes available for purchase.

Barra stated that GM initially intended to introduce a line of new EVs in the entry-level market at a cost of approximately $5 billion. However, due to the success of the current Bolt, with 2023 being its best year for sales, it was more logical to update the existing vehicle rather than launch a new one.

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Barra stated that by utilizing the strengths of the current Bolt EV, Ultium software, and NACS, we will enhance the driving, charging, and ownership experience with a vehicle that customers adore. This will be achieved while reducing capital and engineering expenses by billions, thanks to the use of purchased LFP cells for a more cost-effective battery pack.

Despite not selling as well as expected when it was launched in late 2016, the Bolt experienced a sales surge in its final years due to a series of price cuts, the addition of a roomier crossover-like “EUV” variant in 2021, and American consumers' growing interest in EVs.

The reason GM kept the Bolt around is due to the significant sales increase of more than 50% in 2022, with over 38,000 Bolts sold. This year, sales have already surpassed that number, with almost 50,000 Bolts sold through September.

The Bolt will be temporarily unavailable as GM plans to end production of the current model at its Michigan factory at the end of this year. The company has not yet announced when the updated version will be released or where it will be manufactured. The Bolt's factory in Michigan will be repurposed to produce electric versions of the Chevrolet Silverado and GMC Sierra pickup trucks.

The new Bolt, with its durable and inexpensive lithium-iron phosphate battery cells, improved Ultium platform, latest software, and NACS charging ports, is poised to attract new buyers by utilizing Tesla's Supercharger network.