FX.co ★ GM To End Chevy Malibu Production

General Motors (GM) has announced that it will halt production of its gasoline-powered Chevrolet Malibu car later this year, as it shifts focus towards the production of new electric vehicles. The Chevy Malibu, launched in 1964, has sold over 10 million units since its introduction. The vehicle's production is expected to cease in November.

GM has stated it will be investing $390 million in its Kansas assembly plant for the construction of the new Chevrolet Bolt EVs. This move comes after the company halted production of the previous generation Bolt in December, and discontinued the Chevrolet Camaro towards the end of last year.

In a recent earnings call, GM emphasized the profitability and capital efficiency of the new Ultium-based Chevrolet Bolt EV program, promising it would be one of the most affordable electric vehicles on the market when released in late 2025. The company also reported a substantial increase in EV production during the quarter, leading to a 21% year-on-year growth in retail deliveries for its EV collection through Chevrolet, GMC, and Cadillac dealers in the U.S.

GM emphasized its growing momentum in the EV sector. The Chevrolet Equinox EV, anticipated to be one of the most affordable long-range EVs in the market, is set to hit showrooms this quarter. The automaker further plans to launch more affordable versions of the Chevrolet Equinox EV, the Blazer EV, and the Silverado EV in the latter half of the year, aiming to boost sales and market share. Additionally, Cadillac is set to expand its EV range to include the Optiq and the Escalade IQ during this period.