When General Motors Co. said recently that it would cease production of the Chevrolet Bolt this year, it looked like the end of the line for an electric vehicle known for battery fires and recalls. It turns out, the car will get another chance.
Chief Executive Officer Mary Barra revealed plans for an all-new Bolt model as GM detailed second-quarter earnings Tuesday. The announcement comes three months after GM said the sole Bolt plant would be converted to manufacture plug-in pickup trucks.
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The sudden revival was a bit of a surprise, especially coming in a quarter when the company took a $792 million charge related to the Bolt recall. GM had to recall all 142,000 of the vehicles that were sold through 2021 to deal with rare battery fires.
Despite that, “our customers love today’s Bolt,” Barra said, adding that more than 70% of the car’s customers are new to GM.
The automaker, which didn’t reveal details of the redesigned model, could have named its sub-$30,000 EV anything its marketers wanted. It’s betting Bolt owners are a forgiving bunch who will buy another.
