Story
General Motors Cuts Chevrolet Bolt EV Production Target by 75%, Union Official Says

Summary
General Motors is on pace to build approximately 75% fewer Chevrolet Bolt EVs than initially planned, according to a UAW official, signaling a significant pullback amid shifting market dynamics and the removal of federal subsidies.
General Motors is significantly scaling back production of its Chevrolet Bolt electric vehicle, on track to manufacture about 75% fewer units than originally planned, a United Auto Workers (UAW) official stated. The move reflects a broader industry trend of automakers reassessing their EV strategies following the withdrawal of key federal incentives last year.
Production Targets Slashed
The Kansas City-area plant producing the Bolt is now projected to assemble a total of approximately 35,000 vehicles before the model is discontinued in the first quarter of next year, according to Dontay Wilson, president of the UAW local chapter representing the factory's workers. Wilson told Reuters that the original plan had targeted a run of around 150,000 units. The union's estimate is based on the plant's daily production volume, not on figures provided by GM.
In a statement, General Motors declined to comment on specific production numbers. "We continuously evaluate market dynamics and customer demand," the automaker said.
Policy and Market Headwinds
The reduced output follows a sharp decline in EV sales after a $7,500 federal tax credit for buyers was eliminated in September 2025. This policy shift has prompted several automakers to curb their EV ambitions. GM itself has recorded $10.9 billion in EV-related charges since the second quarter of 2025 and has retooled some facilities to produce gasoline-powered models instead.
AdDespite being marketed as an affordable option with a starting price of $27,600, the new Bolt has seen modest sales, with 4,224 units sold through August of this year. A full production run of 35,000 units would be small compared to competitors; Tesla sells a similar number of its Model Y SUVs in a single quarter, and Ford sold 51,620 electric Mustang Mach-E SUVs last year.
Impact on Plant and Workers
The lower-than-expected production has had a direct impact on the workforce. According to Wilson, nearly 1,000 employees at the Kansas City facility are on indefinite layoff. A memo to workers from a GM plant director, viewed by Reuters, confirmed that the reduced Bolt output delayed the hiring of a second work shift.
However, the plant is slated to receive new assignments. GM plans to shift production of the gas-powered Chevrolet Equinox from Mexico and the Buick Envision SUV from China to the Kansas City factory next year.
Read next
More on Stocks
ClearPoint Neuro Stock Plummets 24% on uniQure's Huntington's Trial Setback
Shares of ClearPoint Neuro fell sharply after its partner, uniQure, announced that its experimental gene therapy for Huntington's disease failed to meet its primary goal in a clinical trial, raising concerns about future revenue for ClearPoint's delivery technology.

Webull to Launch No-Code AI Tool for Trade Preparation via Claude, Perplexity
The online brokerage is expanding its cloud-based AI integration, allowing eligible U.S. users to research markets and prepare trades using natural language on platforms like Claude and Perplexity, without any software installation.

Iovance Biotherapeutics Raises Revenue Forecast on Strong Amtagvi Demand, Shares Surge
The biotech company boosted its full-year 2026 revenue guidance by approximately 15% at the midpoint, citing accelerating demand for its cancer therapies Amtagvi and Proleukin.

J.P. Morgan Upgrades Bureau Veritas to Overweight on Growth and M&A Outlook
J.P. Morgan raised its rating on the inspection and certification firm to “Overweight,” citing an expected recovery in organic growth driven by data centers and an increased capacity for acquisitions.