Chevy Bolt EV is returning to market, months after GM scrapped it

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General Motors said it will bring a new model of the Chevrolet Bolt electric vehicle to market at a still undisclosed future date, reversing its decision three months ago to stop production of the company’s most popular and affordable EV.

Demand appears to have been key. “We can’t build enough Bolts right now,” Chief Executive Mary Barra said during the company’s quarterly earnings call.

The vehicle has also been a magnet for bringing new buyers to GM, the company said. About 70 percent of buyers who trade in a vehicle for a Bolt are trading in a non-GM vehicle, the company said.

GM will bring back the car on an “accelerated timeline,” but said it would announce timing and more details later. Unlike the legacy Bolt, the new model will include “Ultium and Ultifi technologies,” GM said, referring to its newest battery and software products.

GM to scrap Chevy Bolt, its most popular and least expensive EV

The decision to scrap the Bolt had disappointed some EV enthusiasts, who lamented the loss of one of the market’s smallest, most affordable EVs. The sticker price starts at $26,500, with the car also qualifying for a $7,500 federal tax credit.

The Bolt has been a rare example of a new car still priced under $30,000 as new vehicles grow more expensive, pricing many U.S. buyers out of the market.

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