Gary Zhou 
Key Points
- 🚗 A more affordable Chevrolet Bolt is hinted at in a tentative agreement between General Motors (GM) and the United Auto Workers (UAW).
- 💰 The agreement includes nearly $2 billion in electric vehicle investments, with specific investments in GM’s facilities in Michigan, Kansas, and New York.
- 🏭 The Kansas plant is expected to produce the more affordable Chevy Bolt, while the Michigan plant will focus on premium EVs for Cadillac and Chevy.
- 📈 General Motors aims to reduce battery costs by 40% in its third-generation technology, which will likely be used in the new Chevy Bolt.
- 📅 The agreement aligns with earlier hints from GM CEO Mary Barra about a more affordable Chevy Bolt in the future.
A more affordable Chevrolet Bolt was teased in a tentative agreement between General Motors (GM) and the United Auto Workers (UAW). The tentative agreements hints at a new Chevy Bolt produced in Kansas, reported Reuters.
UAW Present Shaw Fain and Vice President Mike Booth announced a tentative agreement with General Motors on October 31, 2023. The tentative agreement includes nearly $2 billion in electric vehicle investments, particularly at GM’s facilities in Michigan, Kansas, and New York.
In the agreement, the legacy automaker writes about a $1.25 billion investment for its Lansing, Michigan Grand River assembly plant and a $391 million investment for its Fairfax, Kansas assembly plant. A new, more affordable Chevy Bolt is expected to be produced at the Kansas plant. Meanwhile, the plant in Michigan will focus on producing GM’s more premium EVs for Cadillac and Chevy. Reuters stated that a pure electric vehicle under the Corvette name may be in the works.
The timing of the more affordable Chevy Bolt teased in the GM-UAW tentative agreement is fitting. Earlier this year, General Motors CEO Mary Barry hinted at a more affordable Chevy Bolt in the future.
“It’s our second-generation technology. The difference between our second generation and third generation, which is Ultium, is a 40% reduction in battery costs. We’re leveraging the names of our vehicles that are well understood and known in (the) industry… Bolt is something that has built up a lot of loyalty and equity. So I can’t say more because I don’t discuss future product programs. But, you know, it was primarily a move from second generation to third generation. But that’s (an) important vehicle in our portfolio,” stated Barra.
Below are the details of the GM-UAW tentative agreement as of this writing.
