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GM Planning To Introduce The Chevrolet Bolt EV In Iceland: Exclusive

General Motors has filed to trademark “Chevrolet Bolt EV” with the Icelandic Patent Office in December, GM Authority has discovered. The filing seems to suggest that the Detroit-based automaker is planning on introducing the Chevrolet Bolt EV in the country.

The Trademark

The trademark application was filed on December 3rd, 2019, carries serial number V0115507, and will represent the following goods and services category: “Land motor vehicles, in particular motor vehicles.”

GM pulled Chevrolet out of Iceland several years ago, and currently has no presence in the market. Somewhat ironically, the Bow Tie brand’s official website at Chevrolet.is shows a healthy lineup on offer, with the site showing a bevy of last-generation GM vehicles such as the first-gen Orlando, Cruze, Captiva and Volt. All of these models have been discontinued a long time ago, meaning that someone left the office, but forgot to update the site.

An interesting factor is that Opel, which GM sold in 2017 to the PSA Groupe, previously marketed the Bolt EV in Iceland as the Ampera-E. Regardless, it would make a lot of sense for GM to offer the Chevrolet Bolt EV in Iceland for various reasons.

A Perfect Environment For EVs

Iceland’s EV market is booming. In 2017, roughly 2 percent of new-car registrations were BEVs and another 6.8 percent being PHEVs, for a total electric/electrified vehicle share of 8.7 percent. That was only second to Norway, which had an even higher EV adoption rate in Europe at the time. By comparison, EV registrations in the EU made up 1.4 percent of all registrations during the same timeframe. Then, halfway into 2018, Iceland’s share of electric vehicles jumped to 13.5 percent, making one thing clear: it is one of the world’s leading markets in terms of electric vehicle adoption.

The country is well-suited for an electric automobile future, as renewable power, a high urbanization rate, high fossil fuel prices and low electricity prices join to form an ideal market for EVs. Virtually all of Iceland’s electricity is generated from renewable resources. Roughly 75 percent of domestically-produced electricity is derived from hydropower and the remaining 25 percent comes from geothermal energy. Because of those conditions, Iceland stands in a unique position to provide its vehicles with 100-percent renewable energy.

Iceland’s high urbanization rate also plays a huge factor in the country’s high EV adoption rate, as over 90 percent of the country’s population living in urban areas (and about 60 percent residing in the capital Reykjavik region). High urbanization is extremely helpful for EV adoption, as short driving distances and charging ports in a concentrated area coincide for an optimal EV environment. In fact, most car owners in Iceland travel roughly 38 km (23 miles) per day.

A Favorable Opportunity

In all, Iceland’s very favorable climate for EVs makes it a perfect candidate for GM to launch the Chevrolet Bolt EV there. With the trademark application for the Bolt EV nameplate filed, it seems like it’s only a matter of time before the small EV is introduced in the Nordic nation.

A prototype for the upcoming Chevrolet Bolt EUV

However, given The General’s decision to abruptly withdraw the Chevrolet brand from Europe and Iceland a few years ago, a re-entry will not be without its challenges. The automaker will need to convince customers and stakeholders, and particularly dealers, that it won’t suddenly pack up and leave the market like it did before.

GM is on track to introduce a bevy of battery-electric vehicles in the next few years, with the automaker promising 20 new EV models by 2023. The effort started with the Buick Velite 6 Plus and Chevrolet Menlo EV for China, and will be followed by the Chevrolet Bolt EUV – a slightly larger version of the Bolt EV.

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Comments

  1. if you are going to write a story about the EV market in any country, you should state what the tax incentives are. that is the main support propping up the EV market.

    Reply
    1. What’s your point? Of course there are EV tax incentives. It’s still a relatively new technology and as a result, it is more expensive to produce an electric vehicle than an ICE. Once they reach parity with ICE vehicles, you can bet electric cars will dominate the market. In the meantime, governments that want people to go green will keep throwing tax breaks on these cars to get people to consider them. Still far less than the massive tax subsidies the oil companies have received for the past few decades.
      Not that the population in Iceland needs that much of an incentive to ditch gas/diesel. Fuel prices there are some of the highest in the world because of shipping costs and carbon taxes.

      Reply
      1. my point is it doesn’t matter that iceland generates 100% of its power with renewables. if there aren’t huge subsidies, EVs will not sell there.

        Reply
        1. @Steve
          You do realize our Government gives Big Oil more in Subsidies than our entire Pentagon Budget per year correct?
          You think all the Tesla Drivers are buying them in Droves because up until January they receive $1,800 from the Government?

          Reply
          1. we’ve already covered this. tesla deliveries in NA dropped 40% last quarter because of the diminishing tax rebates.

            you can complain all you want about the so-called subsidies oil gets. i’m just commenting on the EV market as it is. not what you think it should be.

            Reply
            1. Sales in the US are down because China and Europe are purchasing Teslas in Droves.
              Tesla nor any other Auto Maker would not turn down those sales. Now when the Shanghai Factory starts delivering cars in China it will free up the Fremont Plant to only produce Cars for the US and Europe.
              But in the next two years Tesla will have a Gigafactory in Germany as well.
              They’re not spending Billions of Dollars to build Gigafactories because they do not have Demand.
              Quick question. Doesn’t Ford get the Full $7,500 Rebate for their Mach-E vehicle?
              So why is it that they’re selling them in Europe and not just here in the States?

              Now as far as Big Oil Subsidies…It is not so called but facts. Our Government gives more in Subsidies to them (from our Tax money) per year than our entire yearly Pentagon Budget.

              If GM thinks they can offer some FWD Based EV that looks like an econo Box and steal sales from Tesla they are smoking some serious you know what.
              EV’s should be RWD Based as they are more efficient that way but obviously more expensive to build. Especially as you have to offer AWD if you want to sell in Cold Climates around the World with bad weather. VW figured this out already and their EV’s will be RWD derived and come with AWD options.

              GM, Ford, and especially FCA have’t taken EV’s serious enough and are in danger of losing the Future Battle to The VW Group. As GM fans we should be outraged that they are unable to compete in this new Segment that will be a Huge Battle to grab that all important second position in consumers minds behind Tesla. I always compare it to Apple and Google. Yes Google sells much more Product but Apple is number one in Consumers minds. They are an aspirational Brand just like Tesla has reached.
              As a GM Fan I want them to lead in All Segments specifically concerning the All Important switch in Propulsion that is taking place around the World. They can ill afford to lose this Battle.

              Reply

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