The saga for the Chevrolet Bolt EV and EUV owners continues.
Last week parent company General Motors announced a new compensation program for certain Bolt owners who have dealt with drawn-out fixes for recalled batteries in the electric vehicles. The latest offer is $1,400 for model year 2020, 2021 and 2022 on the Bolt EV and EUV.
The payment will come as a Visa eReward card once owners install what GM is calling “the final advanced diagnostic software” to update the car system as part of the original battery recall. Owners have had to modify charging and reconsider parking indoors because of potential fire risk. Those who accept the payment are not eligible to participate in any future class-action lawsuits against GM, Chevy or battery supplier LG Chem, over the battery recall.
The payout comes as GM winds down the Bolt EV and bigger EUV as it prepares to switch its most affordable EVs to its new battery platform, Ultium. Production will continue through the end of year before a pause on all Bolts. On a Monday call with GM executives they said, “We don’t want to say goodbye to Bolt for too long,” but didn’t have a set time for its return. Inventory of 2023 Bolts is expected to last through March.
A new advertisement from Chevy includes the Bolt EUV and calls it “the most affordable EV in America.” In June 2022, Chevy slashed Bolt prices and the 2023 model year versions start at $26,500 and $27,800, respectively. The Bolt EV was redesigned for 2022, the first year the bigger, more SUV-like version was introduced as the EUV.
But Chevy, along with other automakers like Honda, is pulling back on its affordable EV plan. It’s not just the Bolts, but the Equinox EV is delayed, along with the retail sales of the Silverado EV pickup and GMC Sierra EV pickup. The Orion Assembly plant conversion to an EV factory in Michigan has been postponed to late 2025, pushing back GM’s EV rollout.
In Monday’s media call, the promised $30,000 version of the Equinox EV was effectively squashed. In its place is a $34,995 version that is expected to arrive well after a more feature-heavy launch edition that starts at $48,995 for front-wheel drive. The order books open in November for the more expensive Equinox EV and will start delivery in 2024. The Equinox EV is eligible for the full $7,500 federal tax credit.
Chevy’s other electrified compact SUV, the higher-priced Blazer EV, is now available—but for a nearly $60,000 starting price.