General Motors (GM) CEO Mary Barra recently confirmed the launch of the next-generation Chevrolet Bolt EV for 2025. This announcement comes on the heels of strong sales performance for the current Bolt model. Barra’s statement aligns with her previous remarks during GM’s Q3 earnings call, where she hinted at an expedited market launch for the next-gen Bolt.
Last month, GM made a significant investment of $391 million towards a future EV at Fairfax Assembly in Kansas. This investment is predicted to be for the succeeding Chevy Bolt. The inclusion of a lithium-iron-phosphate (LFP) battery pack and a non-clean-sheet redesign were also highlighted by Barra. The upcoming Bolt will mark GM’s first use of LFP technology in its North American Ultium platform, promising significant savings in capital and engineering costs.
Barra’s announcement comes at a time of renewed optimism within GM. The automaker reinstated its guidance in November 2023, following a period of labor disruptions due to UAW strikes. GM now expects full-year 2023 adjusted earnings to be between $7.20 and $7.70 per share, signaling a positive outlook for the company.
Despite some setbacks with GM Cruise and concerns about EV profitability, the company saw a 5.4% year-over-year sales growth in the third quarter of FY23, amounting to $44.13 billion. This performance surpassed analyst expectations and reflects the resilience of GM’s core internal combustion engine light truck business.
The launch of the next-generation Chevrolet Bolt EV in 2025 is a significant step for GM as it continues to expand its electric vehicle offerings. With the inclusion of LFP technology and a redesigned model, GM aims to further improve the performance and affordability of its electric vehicles. As the automotive industry continues to embrace electric mobility, GM is positioning itself to be at the forefront of this transformation.
Overall, Barra’s announcement showcases GM’s commitment to the development and advancement of electric vehicles. By investing in new technologies and redesigning its models, GM is poised to meet the growing demand for electric vehicles while remaining competitive in the market. The launch of the next-generation Chevrolet Bolt EV in 2025 will undoubtedly be an important milestone for GM and the electric vehicle industry as a whole.
