General Motors Co. (NYSE:GM) has kicked off the production of the Chevrolet Bolt EV, the company's most affordable electric vehicle in the U.S.
Production Kicked Off At Fairfax Plant
The production for the vehicle has begun at GM’s Fairfax plant in Kansas, with the vehicle set to arrive at dealerships in January, GM Authority reported on Wednesday. The news comes after the company revealed the vehicle in October, with the base LT trim retailing for $28,995.
The vehicle features significantly faster charging than the outgoing model, with 150kW capacity and NACS port support. The Bolt EV boasts a 255-mile range and V2L (Vehicle To Load) charging at 9.6kW.
A new 65 kWh LFP battery supplied by Chinese battery giant Contemporary Amperex Technologies Ltd. (CATL) powers the Bolt EV.
GM Layoffs, EV Pullback
The news comes as GM has reportedly laid off close to 3,400 workers at its production facilities in Ohio and Michigan, laying off over 1,200 employees at the Detroit EV plant, as well as over 550 employees at the Ohio Ultium Cell plant.
The company also confirmed that there has been a “significant pullback” in EV demand, with CFO Paul Jacobson saying that rivals were selling EVs for “whatever they could get” during the company's third-quarter earnings call.
The automaker also took on a $1.6 billion charge related to EVs, sharing that $1.2 billion in charges came from EV capacity changes, while the rest of the $400 million in charges were related to contract cancellations.
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