General Motors will equip the next-generation Chevy Bolt EV and Chevy Bolt EUV with lithium iron phosphate (LFP) batteries, which will be purchased from a supplier. GM’s current Ultium battery cells utilize a nickel-cobalt-manganese-aluminum (NCMA) chemistry. The new LFP batteries will help GM save billions of dollars in capital and engineering expenses.
The move to purchase new LFP batteries for use in the next-generation Chevy Bolt EV and Chevy Bolt EUV was announced during GM’s Q3 2023 earnings presentation, during which GM CEO Mary Barra outlined future plans for the upcoming all-electric models:
“Another key launch for us is the next-generation Chevrolet Bolt EV. I know there’s been some speculation in the market as to why we are developing a new Bolt EV. Our strategy is to build on the tremendous equity we have in the brand, and to do it as efficiently as possible,” Barra said. “Our prior portfolio plans included several newly designed vehicles in the entry-level segment and a capital commitment of $5 billion over the next several years.”
Barra went on to state that the upcoming Chevy Bolt models will utilize GM’s latest Ultium technology, its latest software, and the North American Charging Standard, or NACS, a charge type originally developed by Tesla. GM announced it would adopt NACS last June, with plans to integrate it into new GM EVs starting in 2025.
“In the process, we are saving billions in capital and engineering expense, delivering a significantly cost-improved battery pack using purchased LFP cells, we’re getting to market at least two years faster, and our unit costs will be substantially lower,” Barra added. “This will be our first employment in North America of LFP technology in the Ultium platform.”
It’s unclear at the moment where GM will source the new LFP batteries. GM currently produces NCMA-based batteries at the Ultium Cells plant in Ohio, operated under a joint venture with LG Energy Solution. GM will soon launch production at additional battery facilities in Tennessee and Michigan.