Core Viewpoint - General Motors has commenced production of the Chevrolet Bolt EV, its most affordable electric vehicle in the U.S., with plans for dealership availability in January [1][2]. Production Details - The Chevrolet Bolt EV production has started at GM's Fairfax plant in Kansas, with the base LT trim priced at $28,995 [2]. - The vehicle features a 150kW charging capacity, a range of 255 miles, and V2L charging at 9.6kW, powered by a new 65 kWh LFP battery from Contemporary Amperex Technologies Ltd. (CATL) [3]. Employment and Demand Challenges - GM has laid off approximately 3,400 workers across its production facilities in Ohio and Michigan, including over 1,200 at the Detroit EV plant and more than 550 at the Ohio Ultium Cell plant [4]. - The company has reported a "significant pullback" in EV demand, with CFO Paul Jacobson noting that competitors are selling EVs at reduced prices during the third-quarter earnings call [4]. Financial Implications - GM incurred a $1.6 billion charge related to EVs, with $1.2 billion attributed to changes in EV capacity and $400 million due to contract cancellations [5]. - The company demonstrates strong Momentum and Value metrics, though it shows poor Growth but satisfactory Quality, with a favorable price trend in the short, medium, and long term [5].
General Motors Begins Production Of $29K Chevrolet Bolt EV Despite Gasoline Push, $1.6 Billion EV Charge - General Motors (NYSE:GM)