General Motors (GM) is developing a next-generation Chevrolet Bolt based on the Ultium battery and drive technology, aiming for affordability, range, and advanced features.

GM is already launching three electric vehicles this year: the Equinox and Blazer SUVs and the Silverado pickup truck.

The new Bolt will be brought to market on an accelerated timeline, addressing the issues faced by the original model, such as fires and an expensive battery recall. 

GM's CEO, Mary Barra, expressed confidence in the current Bolt's performance, with record sales and high customer satisfaction and loyalty scores.

GM is facing ongoing supply issues that are slowing down the production of Ultium batteries, with most of the EVs produced in the first half of the year still using older third-party batteries.

GM is investing heavily in EV development, including tens of billions of dollars in Ultium batteries and building multiple production facilities for battery cells.

Despite the delays in rolling out new battery tech, GM reported significant profits and revenue growth in its Q2 2023 earnings report.

GM aims to produce 100,000 EVs in the second half of 2023 and had previously set a goal of delivering 400,000 electric vehicles in North America by 2024.

The current launch date for the new Bolt remains unspecified, reflecting the supply issues hampering the production of Ultium batteries.

The opening of additional battery production facilities in Tennessee and Michigan is expected to alleviate the sluggish production of Ultium batteries.