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March 7, 2019 in Industry News
After announcing a company restructuring that would wind up in cutting nearly 15,000 jobs, a GM spokesperson confirmed to Inverse that production of the Volt cease in March 2019.
The Chevy Volt portrayed one of the most technologically significant breakthroughs General Motors has produced, the Voltec plug-in hybrid system.
The hybrid system yielding high fuel-efficiency, an extended range powertrain and a promising solution to gain consumers acceptance of electric vehicles.
With strong competition in the market from Ford, Mercedes and Porsche, the Chevy Volt and Cadillac coupe that sported the hybrid technology failed to yield the results GM originally envisioned. As of late, GM has turned its attention to full-electronic vehicles and the hybrid system looks like it will soon become a thing of the past.
According to GM President Mark Reuss, who controls all aspects of product and production development, the main reason for the shift is cost.
The Chevy Volt, as well as other hybrid vehicles generated quite a few sales with $7500 federal tax credits as an appealing incentive to purchasing such vehicles.
While GM hybrid vehicles are fading, many luxury brands are adding additional plug-in variants to their lineup. This will allow the luxury manufacturers to meet stringent emissions rules imposed globally.
Fact of the matter, as long as a majority of consumers continue to have their doubts about the range of electric vehicles and the availability of charging stations, hybrids will still remain a compelling choice among this mainstream target.
So, is this a wise choice for GM? After all, the only vehicle available under the GM brand to fall in the “electric” category will be the Chevy Bolt EV. GM claims the Chevy Bolt EV is the first affordable all-electric car to offer an EPA-estimated 238 miles of range on a single charge. Only time will tell if this model will come out on top1
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