Chevy Malibu to Finish Manufacturing as GM Prepares for New EV Launch
Manufacturing of the Chevy Malibu will conclude later this yr as Basic Motors gears as much as introduce a brand new line of electrical autos, notably the much-anticipated Bolt EV.
The present iteration of the Chevy Bolt EV, which has been GM’s best-selling electrical car, ceased manufacturing on the finish of 2023. This choice aligns with the corporate’s technique to roll out its subsequent wave of electrical fashions.
GM CEO Mary Barra has introduced that the new-generation Chevy Bolt EV will ship “a good higher driving, charging, and possession expertise” with up to date expertise and options. As the primary Ultium EV in North America to make the most of Lithium Iron Phosphate (LFP) batteries, the forthcoming Bolt can be anticipated to keep up its status as an reasonably priced choice.
Barra confirmed at a latest Automotive Press Affiliation occasion that the Ultium-based Bolt will make its debut subsequent yr. In an interview with Day by day Drive, GM’s CFO Paul Jacobson highlighted the rising demand for reasonably priced EVs as a key cause for revamping the Bolt as a substitute of making a totally new mannequin.
Jacobson said that leveraging the prevailing product will save GM billions and improve the enterprise case for the brand new mannequin. The corporate goals to capitalize on the efficiencies offered by the Ultium platform, integrating LFP expertise to spice up profitability.
As a part of its pivot in the direction of electrical autos, GM will retire the long-lasting Malibu nameplate, having bought over 10 million items because the mannequin’s launch in 1964. With the Malibu being the final remaining automobile in Chevy’s U.S. lineup—aside from the Corvette—this choice underscores the model’s motion towards SUVs and crossovers. Malibu manufacturing is ready to finish in November, coinciding with the introduction of the brand new Bolt EV.
Moreover, GM has introduced a $390 million funding in its Kansas meeting plant to organize for the manufacturing of the brand new Bolt EV. Cadillac XT4 manufacturing can be paused after January 2025 on the identical facility till it transitions to producing the Bolt EV later that yr.
After experiencing a decline in U.S. EV market share through the first quarter, GM hopes that upcoming fashions—together with the Chevy Equinox, Silverado, and Blazer EVs—will assist regain misplaced floor within the second half of the yr.
By way of the primary three months of 2024, GM’s share of the U.S. EV market stood at 6.2%, down from 6.9% within the earlier quarter and eight.4% a yr in the past. This decline might be attributed to a 64% year-over-year drop in Bolt EV gross sales to only 7,040 autos within the first quarter, regardless of a 36% enhance in Ultium EV gross sales. Total, whole EV gross sales fell greater than 20% as the present Bolt mannequin was phased out.
Supply: Reuters
