The Bolt EV will have a starting price of $31,995 compared to the $33,995 starting price of the new 2022 Bolt Utility Vehicle.
General Motors Company (NYSE: GM) to release two affordable Chevrolet Bolts as part of their plan to become an all-electric vehicle company by 2035. According to the report, the company plans on starting the Chevrolet Bolt below $34,000 and will be an all-electric vehicle. Also, there will be a GMC Hummer EV pick-up later this year at a $113,000 starting price. The Chief Engineer of the company’s battery electric vehicle architecture, Jesse Ortega in a statement said that the representation of the GMC Hummer EV and what the Bolt EV in the body can be represented shows their capabilities.
Meanwhile, GM stock is in the green. Currently, it is 1.69% up, trading at $52.20.
Some of the officials of General Motor refused to comment on the profitability of the Bolt EV. However, the CEO of the company, Mary Barra, and the President of the company, Mark Reuss revealed that the expected next-generation vehicle will be more profitable than the Bolt EV set to be released this year. The Bolt EV will have a starting price of $31,995 compared to the $33,995 starting price of the new 2022 Bolt Utility Vehicle.
The affordability of the vehicle places the company in a better consumer preferential position compared to the Tesla Model 3 which starts at around $37,000 and the $43,000 starting price of the Ford Mustang Mach-E Crossover. Tony Johnson, Director of Chevrolet Marketing believes that the team did marvelously well to deliver superb job driving quality, driving consistency, and driving cost. According to him, the advancement was the contributing factor that resulted in the drastic fall of the starting price.
The Bolt EUV hits 250 miles while the Bolt EV hits 259 miles in full charge. The company’s vehicle that has Ultium Technology will have a 450 mile per charge according to reports. General Motors added some technological features to the model to ensure that they stay competitive. The Bolt EUV, for instance, was integrated with the hands-free supercruise semi-autonomous highway driving system. This will help the driver to be monitored with facial recognition whether he is distracted behind the steering wheel or not while the system is running.
The company has launched a marketing campaign called “Everybody In”. This is a strategy to attract new buyers in their numbers to retain them in the coming years as part of their plan to improve on the adoption of EV. This means buyers will have the opportunity to go for a next-generation EV while they give out their lower-priced vehicles to the company. Ortega explained that they have a plan to keep their customers for a lifetime, and so they seek to delight them by offering them an EV as their needs grow and lifestyle changes.
Excellent John K. Kumi is a cryptocurrency and fintech enthusiast, operations manager of a fintech platform, writer, researcher, and a huge fan of creative writing. With an Economics background, he finds much interest in the invisible factors that causes price change in anything measured with valuation. He has been in the crypto/blockchain space in the last five (5) years. He mostly watches football highlights and movies in his free time.
