GM says a next-gen Chevy Bolt is on the way

General Motors isn’t quite done with the Chevrolet Bolt. Back in April, it emerged the company will end production of the popular, wallet-friendly EV and EUV this year, largely because it relies on old battery cell tech and the factory where it’s made is being refitted. However, there’s some positive news for fans of the EV as GM has confirmed a new version of the Bolt is on the way.

The company hasn’t revealed many details about the new Bolt — you’ll need to wait until later this year for that. Unsurprisingly, though, the next-gen model will use GM’s Ultium battery system as well as its Ultifi software platform. The company says that, by harnessing these technologies, it will be able to bring the Bolt back to market “on an accelerated timeline,” but didn’t give an indication of when that might be.

GM made the Bolt announcement during its quarterly earnings call. The company said it saw its strongest Bolt EV and EUV sales to date in the first half of 2023. It posted quarterly revenue of $44.7 billion, up 25 percent year-over-year, but noted there was a $792 million charge related to a new partnership with LG. “The charge reflects the conscious decision GM made during the Chevrolet Bolt EV and Bolt EUV recall to serve customers in ways that go beyond traditional remedies,” GM said.

The company built around 50,000 EVs in North America in the first six months of 2023. It’s doubling that target for the second half of the year. It aims to reach a capacity of 1 million EVs in the continent by 2025.

In the meantime, Chevy has three other EVs on the way this year: the Silverado, the Blazer and the Equinox. The brand will reveal its first full-size electric SUV, the Escalade IQ, on August 9th.