this post was submitted on 16 Sep 2023
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Cars - For Car Enthusiasts
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Except that GM made the one electric car that was absolutely beloved.
GM probably lost tens of thousands of dollars (maybe even hundreds of thousands of dollars) on every EV1 they built. It was a great first effort to see what could have been built at the time, but it was never a viable product to sell.
GM's Chevy Bolt EV right now is much loved as well and it has specs that far, far exceeded anything the EV1 offered.
*had. RIP to a real one.
...and GM discontinued the Bolt as well, despite solid sales & demand, because they were also losing money on each unit sold.
They also said the Bolt is coming back in like 2 years as an Ultium vehicle which should make it even better still.
GM probably lost $XX,000 on each EV1.
They are probably losing $X,000 on early current Bolt EV.
Their move to Ultium will probably either break ev3n or actually turn a profit in the Ultium Bolt.
Oh, that's cool. I'll keep an eye out then! I used to have a Volt and a Bolt and I really liked them.