We only have a crumb for now, observers gathering morsels of intel on what to anticipate of the next-generation Chevrolet Bolt. During GM’s Q3 earnings call, CEO Mary Barra confirmed the hatchback’s return, telling analysts, “I do know there was some speculation available in the market as to why we’re developing a brand new Bolt EV. Our strategy is to construct on the tremendous equity we’ve within the brand and to do it as efficiently as possible.” The efficiency bit is the important thing phrase in that sentence, Barra explaining that GM can get the brand new Bolt to market quicker than a vehicle program from scratch while ” saving billions in capital and engineering expenses.” A giant a part of that savings comes from the plan to make use of lithium-iron phosphate (LFP) batteries, that are markedly inexpensive than the lithium-ion pack in the present automotive and the nickel-cobalt-manganese-aluminum (NCMA) chemistry in GM’s Ultium packs. Barra explained, “That is might be our first deployment in North America of LFP technology within the Ultium platform.”
LFP cells are going into more vehicles across the EV landscape, already utilized in base versions of the Tesla Model 3 and Model Y since 2021, and the bottom Ford Mustang Mach-E, and they’re headed to the F-150 Lightning. They’re headed for a brand new entry-level version of the Rivian R1, meaning we would not be surprised to see them within the Rivian R2 as well. Toyota’s planning LFP cells for its lower-cost EVs. One analyst said he believes 250 EVs will run on LFP cells by 2030, not that carmakers want you to know that. In line with a bit in Ars Technica from the start of the yr, LFP batteries were 20% inexpensive per kilowatt-hour than nickel-manganese-cobalt cells. A PC Mag report on the chemistry opined that carmakers just like the batteries for his or her cost, performance, longer lifespan, and lower risk of overheating, but do not like talking about them, perhaps due to their associations with inexpensive trims and their charging performance that lags behind the pricier chemistries. The cells seem fit for a brand new Bolt depending on the worth, although we’re certain some potential customers won’t just like the downgrade irrespective of the associated fee.
Barra didn’t mention the battery supplier. There are alternatives: Chinese energy company CATL makes LFP calls, GM partner LG Energy plans to provide them in Michigan. Earlier this yr, GM put money into Silicon Valley company Mitra Chem, however it’s not clear when Mitra Chem’s batteries might be ready for production. The eventual pack is predicted to enter an Ultium platform and use Ultium motors, but who knows.
For that matter, we do not know when the brand new Bolt might be ready for production, either; Barra explained the standard vehicle development cycle might be cut by two years, so perhaps 2025 if the brand new automotive’s already been within the works for a yr. Having sold more Bolts in the primary three quarters of this yr than in any previous full yr of sales, Chevrolet will want it to be soon.
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