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Ultium-powered Chevrolet Bolt a possibility after comments from CEO Mary Barra

General Motors CEO, Mary Barra, has hinted that a next-gen Chevrolet Bolt could be in the works, although production is set to end this year

General Motors CEO, Mary Barra, has hinted that a third-generation Chevrolet Bolt could be in the works, despite a previous announcement that production would end later this year.

During a recent interview on NPR’s Marketplace podcast, Barra clarified that the decision to end Chevy Bolt production before 2024 was due to its now-outdated “second-generation technology.” The car manufacturer has stayed focused on implementing its new Ultium platform, founded in partnership with LG Energy Solution, across its electric vehicle lineup, a move the CEO claimed would reduce battery costs by 40%. Although the GM chief declined to say outright whether an Ultium-based Bolt would arrive, she noted that the car manufacturer would push the new EV architecture through its most-popular models. The Bolt, she added, is an “important vehicle in our portfolio,” which has “built up a lot of loyalty and equity.”

The Chevy Bolt, with its satisfactory driving range and relatively low price, is considered one of the most budget-friendly products in the U.S. EV market. However, an iteration using the Ultium platform would offer more than technological updates. The cheaper Ultium battery would drive its already-affordable price down even more while still offering faster charging, increased driving range and all-wheel-drive options.

But, while Barra’s statements imply the arrival of an Ultium Chevy Bolt is on the horizon, car manufacturers still tend to lose money on cheaper battery-powered models in the U.S. Despite its popularity, the soon-to-be-canceled vehicle failed to turn a profit for the company. Although high prices are a significant obstacle to EV adoption, automakers have found themselves playing a balancing game between profitability and affordability. Therefore, it may take quite some time for the technology to become truly cost-effective, meaning GM could sit on a third-generation version until the market becomes less hostile to budget-friendly models.

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Colin Velez
Colin Velez
Colin Velez is a staff writer/reporter for CBT News. After obtaining his bachelor’s in Communication from Kennesaw State University in 2018, he kicked off his writing career by developing marketing and public relations material for various industries, including travel and fashion. Throughout the next four years, he developed a love for working with journalists and other content creators, and his passion eventually led him to his current position. Today, Colin writes news content and coordinates stories with auto-industry insiders and entrepreneurs throughout the U.S.

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