The Chevrolet Bolt, a fan-favorite budget, electric car, is making a comeback after parent company General Motors Co GM announced that it was discontinuing the car line a few months ago. The Bolt, which was first introduced in 2016, was marred with a fire risk that caused a recall of more than 100,000 cars.
But now, fully equipped with a new battery, Chevy announced that the Bolt would be coming back better than ever. The car will have an Ultium battery which will deliver “great affordability, range and technology” according to the Big Three automaker.
GM’s CEO, Mary Barra, addressed investors during the company’s Q2 earnings call, and said that the Bolt would be returning on an accelerated timeline, but did not disclose specific details in terms of a release date.
“Our customers love today’s Bolt. It has been delivering record sales and some of the highest customer satisfaction and loyalty scores in the industry,” said Barra. “We will keep the momentum going by delivering a new Bolt…and we will execute it more quickly compared to an all-new program with significantly lower engineering expense and capital investment by updating the vehicle with Ultium and Ultifi technologies.”
While many supply-chain issues that arose during the COVID-19 pandemic have been alleviated, carmakers are still having issues sourcing materials necessary for the production of batteries. This could help explain why Barra was hesitant to give a detailed timeline of the Bolt’s return.
To learn more about the Chevy Bolt and General Motors’ quarter, check out the company’s letter to shareholders here.
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