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Normal Motors Posts File Chevrolet Bolt EV, Bolt EUV Gross sales

Normal Motors Posts File Chevrolet Bolt EV, Bolt EUV Gross sales

Normal Motors posted spectacular Q3 gross sales numbers yesterday for its battery-powered Chevy Bolt EV and its barely bigger Bolt EUV.

Each fashions offered 14,709 items mixed, a report for quarterly gross sales. GM says demand “outpaced provide,” so it has elevated manufacturing projections for 2023 by 60% in comparison with 2022.

In response to the excessive gross sales numbers on the Bolts and rising demand, GM has shifted manufacturing priorities. The corporate will pause manufacturing on the GMC Hummer EV pickup for a couple of weeks in November to prioritize filling orders on the Silverado EV, which arrives subsequent yr. GM says it already has 170,000 reservations for the electrical pickup—“and rising.” 

Chevy Bolts are among the many most inexpensive EVs available on the market with a decent vary—259 miles for the Bolt EV and 247 miles for the Bolt EUV (quick for “electrical utility automobile”). Costs for each fashions have additionally steadily decreased lately, making them more and more accessible. 

The Bolt EV was $37,495 in 2021, $31,995 in 2022, and shall be $25,600 in 2023 (beginning worth). The Bolt EUV launched in 2022 at $33,500 and the 2023 mannequin begins at $27,200.

Chevy additionally entices consumers by providing free stage two charger house set up. “Most EV drivers do not less than 80% of their charging at house, and practically two-thirds of Bolt EV and Bolt EUV retail clients are selecting Chevrolet’s house charging choice,” GM says(Opens in a brand new window).

Car charging in garage.

Automobile charging in a storage.
(Credit score: Chevrolet)

Though Chevy plans to extend manufacturing for subsequent yr, Bolts will quickly start to point out their age since they aren’t constructed on the brand new Ultium battery platform(Opens in a brand new window) discovered on the Silverado EV and the upcoming 2023 Chevy Equinox EV (fall) and Blazer EV (summer season). Yesterday’s announcement confirmed these launches are all on schedule.

The Ultium platform is designed as a sequence of smaller battery packs that may be simply rearranged and incrementally upgraded. The Hummer EV and Cadillac Lyriq, additionally from GM, use the Ultium platform. The Bolts, nevertheless, have one massive battery pack like most early EVs.

Battery platform.

The model of the Ultium battery platform used on the Hummer EV.
(Credit score: PCMag/Emily Dreibelbis)

GM plans to supply Ultium batteries in 4 US crops, a transfer probably supposed to make sure GM’s electrical automobiles qualify for the brand new $7,500 EV tax credit score, which requires qualifying automobiles to have a sure share of battery mineral sourcing and battery manufacturing in North America. 

GM confirmed it has opened its first plant to make Ultium Cells in Warren, Ohio, which “will assist allow GMC Hummer EV and Cadillac Lyriq manufacturing to extend in 2023.” Two extra crops will open in 2024, one in Tennessee and one in Michigan. The placement and timing for the fourth plant (of 4) is but to be introduced.

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SUV at sunrise.

2023 Cadillac Lyriq
(Credit score: Cadillac)

Relating to minerals sourcing, arguably the hardest battery-related requirement for automakers to satisfy with a purpose to qualify their 2023 automobiles for the credit score, GM says it has “binding agreements securing all the mandatory battery uncooked materials to help its annual EV capability aim in North America in 2025, together with lithium, nickel, cobalt and full cathode lively materials provide.”

That is a very good signal for these hoping GM’s full electrical lineup will qualify for the federal tax credit score subsequent yr. The model has but to substantiate, however will want to take action by the 2022 deadline.

GM CEO Mary Barra plans to maneuver all its automotive manufacturers to completely electrical by 2035, however within the meantime, the corporate will nonetheless spend money on gas-powered, revenue-generating SUVs. 

Yesterday’s gross sales announcement claims GM was primary in full-size SUVs, full-size pickups, and enormous luxurious SUVs within the nation in Q3. The Chevrolet Tahoe and Suburban, plus the GMC Yukon and Yukon XL, make up nearly 70% of the marketplace for full-sized SUVs in Q3. The Cadillac Escalade and Escalade ESV had been nearly 31% of the luxurious SUV market, GM claims.

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