With Silverado EV delayed, GM should extend the life of the Bolt
This week, GM said it’s pushing back Silverado EV production by a year; which gives it a perfect opportunity to extend the life of the Bolt in its best year of sales yet.
The announcement came Tuesday, with GM stating that planned production of the Silverado EV would be delayed by a full year “to better manage capital investment while aligning with evolving EV demand.”
The story suggests that GM isn’t sure about EV truck demand, seeing that Ford recently cut a shift from its F-150 Lightning production plant.
However, Rivian is still growing quickly and beating expectations, so maybe there’s another underlying problem for incumbent automakers. Also, GM and Ford are both currently facing a strike from UAW, which may continue if automakers remain hesitant to offer workers a fair deal.
But what does all this have to do with the Bolt, you ask?
Well, the Bolt is produced in the same plant, GM’s Orion Assembly in Lake Orion, Michigan, that GM had planned to produce the SIlverado EV in. That’s why the Bolt is going out of production – to make room for new lines that incorporate GM’s new Ultium battery platform, which the Bolt doesn’t use as it predates that platform. Since the Bolt is on old technology, GM plans to retire it (though after much urging, GM said it would make an Ultium-based Bolt).
But the Bolt is also having its best year yet, already having sold a record number of cars this year with another quarter yet to go. And despite higher production than ever, it’s still sold out everywhere, because it’s a fantastic deal at a base MSRP of $26k. It is also good enough to win Electrek’s Vehicle of the Year award in this last year of its existence.
So it was good news when GM decided to continue production through December, but now that the plant won’t be upgraded for another year, why not extend it even longer?
Surely tooling for the Silverado will take some time so GM won’t get a full extra year of production out of the Bolt, but they’ve already got the lines running for the Bolt, so why not keep them running for a few months longer? And let a few tens of thousands of EV fans get access to a great deal on a car that’s been hard to find all year.
This would require a lot of coordination with suppliers on GM’s part, who have already extended a date once. So it’s not as easy as just continuing to run the lines, but we still think there’s a valuable end goal here, in letting more people get access to a great car and showing how great and affordable EVs can be.
We’d love to see more Bolts out there, both because it’s a great car (though with the one major downside of slow 50kW DC charging) and because it’s a fantastic deal. And if GM did continue production through next year, that deal would be even better given the planned improvement to the Federal EV tax credit.
Next year, the credit will be available upfront at the point-of-sale, which means buyers won’t have to wait until filing their taxes to get the refund anymore. It also means that low- and middle-income buyers can benefit from the full credit, instead of having that amount reduced if they don’t have $7,500 in total tax liability.
Both of these aspects would combine to make the Bolt, currently the most affordable EV and one of the most affordable new cars of any type on the road, an even more fantastic deal for more people. If new Bolts were still available in 2024 at a starting price of ~$19k (and even less after some state rebates), it would really make a statement about the affordability of EVs in general.
And so, we think this is an excellent chance for GM to extend the life of the best deal in EVs (and, honestly, in the whole auto industry), and their best-selling EV, in its best-selling year, going into a time that would be particularly advantageous for a value EV, in a plant that it doesn’t seem like it will be using anyway. Pretty please, GM?
If you’re looking to take advantage of the best deal in EVs right now before it goes out of production (though we hope it doesn’t…), you can use our links to contact your local dealers about the 2023 Chevy Bolt EV or 2023 Chevy Bolt EUV, and see if they have any left in stock.
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The average US new car price crossed the $50,000 mark for the first time in September, according to new estimates from Kelley Blue Book (KBB). Prices have been climbing steadily for over a year, and the pace picked up this summer – but that hasn’t stopped Americans from buying.
KBB says September’s record average transaction price (ATP) was partly driven by luxury models and EVs, which pushed the market into record territory. EVs made up an estimated 11.6% of all new vehicles sold last month, which is also a record high. The average EV sold for $58,124 – up 3.5% from August’s adjusted figure.
In Q3, EV sales hit another milestone: 437,487 EVs were sold in the US, giving them a 10.5% market share. That’s nearly a 30% jump from the same period last year. With government-backed EV incentives expiring at the end of September, many buyers hurried to lock in their purchases.
Year-over-year, the average EV transaction price is basically flat, down just 0.4%. Incentives averaged 15.3% of ATP in September, or about $8,900 per vehicle – slightly lower than August but higher than a year ago, when incentives averaged 13%.
Tesla, which continues to dominate the EV market, saw an average ATP of $54,138 in September. That’s a slight dip from August and down 6.8% from a year earlier. With Tesla recently introducing the new Standard versions of the Model 3 and Model Y, KBB expects average prices across the segment to fall in the coming months. Erin Keating, executive analyst at Cox Automotive, thinks the market is “ripe for disruption.”
“It is important to remember that the new-vehicle market is inflationary. Prices go up over time, and today’s market is certainly reminding us of that,” said Keating. “The $20,000 vehicle is now mostly extinct, and many price-conscious buyers are sidelined or cruising in the used-vehicle market. Tariffs have introduced new cost pressure to the business, but the pricing story in September was mostly driven by the healthy mix of EVs and higher-end vehicles pushing the new-vehicle ATP into uncharted territory.”
Read more: US EV sales smash records in August as Tesla loses ground
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It’s official. The Genesis GV70 is about to get two new electrified options, including its first hybrid and extended-range (EREV) versions.
Two new Genesis GV70 electrified SUVs are coming soon
Genesis is turning 10, and it’s planning to go all out. Hyundai gave us a look at what’s coming last month during its CEO Investor Day.
The plans include Genesis expanding with new electrified powertrain offerings, including its first hybrid and extended-range electric vehicles.
Up until now, the luxury automaker has focused on fully electric (EV) or internal combustion engine (ICE) vehicles. By expanding into different electrified powertrains, Genesis hopes to attract new buyers to the brand while grabbing a bigger share of the luxury market.
Genesis will launch its first hybrid in 2026, the GV80. We knew the GV70 EREV would follow shortly after, but now it’s been confirmed that a hybrid model is also set to join the lineup.
We got our first look at the Genesis GV70 EREV last week. The vehicle was parked in South Korea and appeared to be nearly identical to the current model. Aside from a tag labeling it an EREV and a massive muffler at the back, it looks about the same as the Electrified GV70.
Now, we are finally getting a glimpse of the Hybrid version. The Genesis GV70 Hybrid was also caught by HealerTV in South Korea, this time with an HEV tag.
Like the EREV, the GV70 Hybrid is still covered in camouflage, but this time, you can see the vehicle has the brand’s sport package. The optional package adds sporty exterior and interior elements, including chrome around the Crest Grille and window trim.
The vehicle is still a prototype, so it could change by the time it reaches production form. However, as the reporter points out, the GV70 Hybrid could bring a unique new look to the GV70 series.
On the side of the tire, the letters “FL” are printed, which is typically shown on Hyundai vehicles set to receive a facelift.
Genesis is expected to launch the GV70 EREV in late 2026, followed by the Hybrid version sometime in early 2027.
According to Hyundai, the EREV will have a combined driving range of over 1,000 km (620 miles). Although it still runs on an electric motor, it will feature a small gas motor that acts as a generator to charge the battery and extend the driving range.
Genesis is betting on new electrified vehicles, including EVs, hybrids, and EREVs, to drive growth. The luxury brand aims to expand into up to 20 new European markets while gaining a bigger share of the US market. By 2030, Genesis aims to sell 350,000 vehicles.
Although it had planned to only offer fully electric vehicles from 2030, Genesis backed off on its commitment. Instead, it will use hybrids and EREVs as a bridge to an all-electric future.
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Duracell, the iconic US battery brand that started in the 1920s, is crossing the Atlantic to launch its first-ever EV fast charging network, Duracell E-Charge, in the UK.
Sales of gas and diesel cars will end by 2030 in the UK, which is driving EV sales and charging infrastructure growth. With more than £200 million ($266 million) in planned investment over the next decade, Duracell E-Charge is getting on the bandwagon with an aim to improve the fast charging experience.
Duracell has licensed its new network to Elektra Charge, a charge point operator set up to run the Duracell E-Charge network. The EV Network (EVN), one of the UK’s top charging infrastructure developers, will fund and build the charging hubs.
“The need for faster, more reliable charging to keep pace with EV adoption is clear,” said Reza Shaybani, CEO of The EV Network. “Duracell E-Charge is a direct response to that challenge.”
Duracell’s EV fast charging network will feature 400 kW ultra-fast chargers where drivers can pay via app, contactless, or plug-and-go. Each site will have intuitive interfaces, clear signage, and 24/7 support.
The first six Duracell E-Charge sites will come online in 2025. The Sunday Times reported that Duracell plans to grow its charging network to at least 100 charging stations with at least 500 charging points by 2030. The hubs will be strategically located along major motorways, near retail and hospitality venues, and at key city gateways.
“Charging your car should be as simple as changing the batteries in your remote,” said Mark Bloxham, managing director of Duracell E-Charge. “Plug. Play. Go.”
Electrek’s Take
I asked Duracell whether it had plans to launch Duracell E-Charge in the US, and I’ll update this story if I hear back. But if you want to know why this American legacy company launched its first DC fast charging network in the UK instead of the US, it’s a simple answer. Business-friendly, stable government policy.
Read more: InstaVolt is using GPS tracking to catch thieves stealing its EV charging cables
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Your personalized solar quotes are easy to compare online and you’ll get access to unbiased Energy Advisors to help you every step of the way. Get started here.
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