GM once stated that its Chevy Bolt EV would be available in all 50 states at launch. But it looks like the automotive giant had a sudden change of heart, as the initial launch of its electric car will be limited to California and Oregon.
The reason for the limited launch of the Bolt EV is quite simple. According to sources cited by Detroit News, the company can lose between $8,000 to $9,000 on every Bolt EV it sells. One of the main factors for the loss is that GM doesn’t control the entire manufacturing process, as it relies on LG for a lot of parts like the battery, the main powertrain components, the HVAC system, and others.
According to the report, GM is paying at least $8,700 per battery for a car which starts at $37,500. When taking all other necessary parts into account, it becomes clear that GM has to dish out quite a lot of money before it even starts assembling the vehicle.
But thanks to electric vehicle credits, the company has nothing to worry about. Well, at least in some states. Thanks to the ZEV program in California, GM will receive 4 ZEV credits for every Bolt EV it sells in the state. Each credit has a value between $4,000 to $5,000, which means that the company could still make a nice little profit on every car it sells.
What do you think about the Chevy Bolt EV? Would you consider buying one, or would you rather spend your money on a different EV?