What Does GM's Electric Future Look Like After Chevrolet Bolt's Exit? Last Year's Delivery Numbers Could Give A Hint
Portfolio Pulse from Anan Ashraf
General Motors Co (NYSE:GM) is transitioning its EV lineup after discontinuing the Chevrolet Bolt EV and EUV, which represented over 80% of its 75,000 EVs sold in the U.S. in 2023. The Lake Orion plant, previously producing the Bolt, is being retooled for electric trucks like the Chevrolet Silverado EV and GMC Sierra EV, with production starting in late 2025. GM's short-term EV delivery targets are unclear, but it aims to go all-electric by 2035.
January 05, 2024 | 1:09 pm
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GM's discontinuation of the Chevrolet Bolt EV/EUV and the retooling of the Lake Orion plant for upcoming electric trucks may create uncertainty in short-term EV delivery targets but aligns with its long-term goal of an all-electric fleet by 2035.
The discontinuation of the Chevrolet Bolt EV/EUV, which was a significant part of GM's EV sales, may negatively impact short-term sales figures and investor sentiment. However, the retooling for future electric trucks indicates a strategic shift towards more profitable and potentially higher-demand segments, which could be positive in the long term. The lack of updated short-term delivery targets adds uncertainty, but the commitment to an all-electric future by 2035 suggests a clear strategic direction.
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