General Motors Is Going Big With EVs

By: James Flippin · April 27, 2023 · Reading Time: 3 minutes

No More Chevy Bolt

General Motors (GM) CEO Mary Barra just announced the automaker will be discontinuing both versions of the Chevrolet Bolt, its first mass-market electric vehicle. This move mirrors Nissan’s (NSANY) decision to stop producing the Leaf, a pioneer product in the industry. Nissan’s compact EV was the bestselling plug-in electric car for almost all of the 2010s.

This decision doesn’t mean that GM is phasing out electric vehicles. In fact, it has big things planned for the industry — with an emphasis on “big.” GM has three new EV models on the way: the Silverado pickup, Blazer SUV, and Equinox SUV.

Go Big or Go Home

General Motors’ decision to phase out the Bolt in favor of larger SUVs and pickup trucks is not without reason. In the US, roughly 66% of all vehicles sold are SUVs, while 25% are pickup trucks. Americans show a strong preference for the extra legroom, cargo space, and higher riding stance offered by bigger vehicles.

At the same time, larger vehicles also tend to be more expensive than sedans. GM is taking all of this into consideration so that it can sell more EVs while also making more profit per vehicle.

Get Ready for Big EVs

Electric vehicles have traditionally been associated with smaller, more compact cars. But, thanks to improved technology, the days of small, sleek EVs may be in the rearview. If more automakers follow Nissan and General Motors — not to mention the market — consumers can expect electric vehicles to be larger and more powerful moving forward.

If you have a preference for smaller cars, you might want to keep this transition in mind and snag a small EV before they are phased out entirely. But, if you prefer a gas guzzler that doesn’t actually take gas, you’ll soon have plenty of options to choose from.

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