GM Hints at New Affordable Next-Gen EV Made in U.S.
The average transaction price (ATP) for a new EV in May was $57,734, Kelley Blue Book reports. Chevy's 2027 Bolt will be North America's first Ultium-based model with lithium iron phosphate (LFP) batteries, helping the model sell at lower prices than ones with nickel manganese cobalt batteries. Despite details on the 2027 Bolt remaining limited, its release around mid-2026 means that Chevy is likely months away from revealing the model.
News of the affordable EV in development arrives after GM revealed plans to invest around $4 billion in U.S. production for gas-powered and electric models over the next two years. Domestic manufacturing investments should help GM mitigate the impacts of President Trump's tariffs, which are projected to cost the automaker up to $5 billion in 2025. GM's $4 billion investment will allow the company to manufacture over two million vehicles in the U.S. annually. In addition to making a next-gen affordable EV and the 2027 Chevy Bolt, GM's Fairfax, Kansas plant will support the gas-powered Chevy Equinox's production starting in mid-2027.
Equinox sales increased 30% year-over-year during Q1. Separate GM U.S. production facilities include Orion Assembly in Orion Township, Michigan, and Spring Hill Manufacturing in Spring Hill, Tennessee. Orion Assembly will take on gas-powered full-size SUVs and light-duty pickups, while Spring Hill Manufacturing will focus on the Chevy Blazer, the Cadillac LYRIQ and VISTIQ EVs, and the Cadillac XT5. GM's Factory ZERO in Detroit-Hamtramck, Michigan, will handle the Chevy Silverado EV, GMC Sierra EV, Cadillac ESCALADE IQ, and GMC HUMMER EV pickup and SUV production.
GM also confirmed plans last month to commercialize lithium manganese-rich (LMR) prismatic battery cells for future GM electric trucks and full-size SUVs. These cells will provide a 33% higher energy density compared to the best lithium iron phosphate (LFP)-based cells at a comparable cost. The new battery cells are expected to be a staple of the automaker's electric truck lineup, with over 400 miles of available range, while optimizing savings over their high-nickel pack counterpart, which currently supplies segment-leading range.
Following GM's most recent production announcement, the biggest question is whether its next-gen affordable EV will be part of the Chevy Bolt EV family or a new lineup. We also don't know whether the 2027 Bolt EV, which is returning after a three-year hiatus, will revive its hatchback configuration or if the model will adopt crossover styling reminiscent of its EUV version. Still, it's clear that GM's manufacturing strategy is prioritizing affordability in the EV segment and cost mitigation amid tariff policies.
Copyright 2025 The Arena Group, Inc. All Rights Reserved.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
NBC News
16 minutes ago
- NBC News
Trump's tax law will mostly benefit the rich, while leaving poorer Americans with less, CBO says
WASHINGTON — President Donald Trump 's tax and spending law will result in less income for the poorest Americans while sending money to the richest, the nonpartisan Congressional Budget Office reported Monday. The CBO estimates that the 10% of poorest Americans will lose roughly $1,200 a year as they experience restrictions on government programs like Medicaid and food assistance, while the richest 10% of Americans will see their income increase by $13,600 from tax cuts. Overall, American households will see more income from the tax cuts in the legislation, including middle income households, but the largest benefit will go to the top 10% of earners. The CBO's report comes as lawmakers are away from Washington, many taking their messages about the bill to voters. Republicans muscled the legislation — deemed 'the big, beautiful bill' by Trump — through Congress in July. Democrats all vehemently opposed the legislation, warning that its tax cuts and spending priorities would come at the expense of vital government aid programs and a ballooning national debt. 'This really is a big, beautiful bill for billionaires, but for the poor and the working class in this country, you are actually poorer,' said Rep. Brendan Boyle, the top Democrat on the House Budget Committee, in an MSNBC interview on Monday. Changes to eligibility for government food assistance under the law will impact millions of Americans, the CBO found. Roughly 2.4 million people won't be eligible for the Supplemental Nutrition Assistance Program under new work requirements for many recipients. Low-income Americans could also see their income reduced through further restrictions on food aid and other types of assistance included in the law. Already, more than 10 million Americans are expected to be without health insurance by 2034 due to changes to Medicaid under the law. Following release of the report, Rep. Jason Smith, the Republican chair of the House Ways and Means Committee, said he took issue with CBO's methodology, repeating criticism he has made in the past. 'CBO has a troubled track record of getting its estimates incorrect and, like Democrats, is biased in favor of more federal spending and higher taxes,' Smith said on social media. 'Don't buy it.' Republicans have been eager to sell the upsides of the legislation — arguing that the tax cuts will spur economic growth — while they are on a monthlong summer break from Washington. But those who have held townhalls in their home districts have often been greeted by an earful from voters and activists. 'Tax the rich,' the crowd in Lincoln, Neb. chanted last week as Republican Rep. Michael Flood attempted to defend the bill. Still, Trump has been undeterred.
Wall Street Journal
16 minutes ago
- Wall Street Journal
Yen Mostly Weakens After U.S. Extends China's Trade Deal Deadline
0051 GMT — The yen weakens against most other G-10 and Asian currencies in early trade after President Trump extended the U.S.'s trade truce with China through Nov. 9. This means the tariff rate on imports from China will stay at 30% instead of jumping to a higher level as it would have if no deal had been struck by Tuesday. Although this extension was highly anticipated, confirmation of the trade truce will still be positive for sentiment in Asia today, UOB's Global Economics & Markets Research say in a note. USD/JPY edges 0.1% higher to 148.35, AUD/JPY rises 0.2% to 96.72, and EUR/JPY is 0.2% higher at 172.35, FactSet data show. (
Yahoo
44 minutes ago
- Yahoo
Trump nominates Bureau of Statistics critic to lead agency after previous head fired over bleak report
The Trump administration has nominated economist Dr. E.J. Antoni to be the next Commissioner of the Bureau of Labor Statistics, after the president alarmed observers by firing the previous chief at the beginning of the month over his anger at a poor July jobs report. 'I am pleased to announce that I am nominating Highly Respected Economist, Dr. E.J. Antoni, as the next Commissioner of the Bureau of Labor Statistics,' Trump wrote on Truth Social, nodding towards the previous firing. 'Our Economy is booming, and E.J. will ensure that the Numbers released are HONEST and ACCURATE. I know E.J. Antoni will do an incredible job in this new role. Congratulations E.J.!' Antoni currently serves as chief economist at the conservative Heritage Foundation, a think tank closely aligned with the administration. He was a contributor to the group's Project 2025, a controversial blueprint document outlining many of the moves the Trump administration has taken in office. The economist was reportedly among a handful of candidates under discussion after Trump removed Erika McEntarfer, whom he accused of using 'phony' numbers in the July jobs report that showed private companies adding just 73,000 positions, below projections. Former Trump adviser Steve Bannon pushed for Antoni's nomination shortly after McEntarfer was fired. 'E.J. Antoni as the new head of Bureau of Labor Statistics—that's what we're pushing. He's the guy that almost single-handedly took it down by going through their numbers,' Bannon said on his podcast. Antoni, who will face Senate confirmation, wrote on X last week that the bureau, part of the Labor Department, needed to revise its methods to 'rebuild the trust that has been lost over the last several years.' The bureau conducts wide-ranging surveys of American households and business and its statistics are an important benchmark for the wider economy, impacting everything from investment returns to pension payments. 'If the administration undermines the quality of economic statistics, it would make it impossible for our tax laws to work as Congress intended,' Greg Leiserson, a senior fellow at the Tax Law Center at NYU Law, told the Wall Street Journal after McEntarfer got the axe. Administration officials argue the bureau has become unreliable. "You want to be able to have somewhat reliable numbers,' Trade Representative Jamieson Greer told CBS News earlier this month. 'There are always revisions, but sometimes you see these revisions go in really extreme ways.' Former officials said revisions to the bureau's data, which triggered furor from the administration, are in fact a regular part of the process, and that the commissioner has little direct role within the agency's information gathering. 'The commissioner doesn't do anything to collect the numbers,' William Beach, nominated to serve the position during the first Trump administration, recently told CNN. 'The commissioner doesn't see the numbers until Wednesday before they're published.' The questions surrounding the BLS are part of larger concerns over the Trump economy, including continued uncertainty over the impact of his often-revised tariff plan, which most recently included another 90-day pause for tariff hikes on China. A Times of London/YouGov poll from earlier this month found that 48 percent of Americans graded Trump's job performance over the first six months of his administration as poor, compared to 21 percent who rated it excellent, 16 percent who rated it good and 11 percent who rated it as fair. Four in 10 Americans said that Trump's tariffs will make the country poorer and stifle economic growth.
