General Motors is planning to end production of its electric Chevrolet Bolt models by the end of 2023, according to CEO Mary Barra during the company’s quarterly conference call.

GM said it plans to produce more than 70,000 Bolt models this year.

The starting price of the 2023 Bolt EV is $26,500, making it one of the least expensive pure EV on the market. 

What's Next for GM

The Bolt features older battery technology that has been superseded by GM’s Ultium platform, used in the GMC Hummer EV, Cadillac Lyriq, and BrightDrop commercial vans, as well as upcoming Chevrolet Silverado, Blazer, and Equinox EV models that are launching later this year.  

A plant in Detroit that has produced Chevrolet Bolts since 2016 will be used for the production of the electric Chevrolet Silverado and GMC Sierra trucks scheduled for 2024, Barra added.

"When Orion EV assembly reopens in 2024 and reaches full production, employment will nearly triple, and we'll have a company-wide capacity to build 600,000 electric trucks annually," Barra said. "We'll need this capacity because our trucks more than measure up to our customers' expectation, and we'll demonstrate that work and EV range are not mutually exclusive terms for Chevrolet and GMC trucks. So stay tuned."