Chevy vows to keep Bolt name, despite confusion

The company has finalized its decision after conducting two studies.

General Motors has decided to stick with the name 'Bolt' for its battery-powered compact car.

The company in February questioned the branding, acknowledging potential confusion with the existing Volt plug-in hybrid. No other names were publicly proposed, but one executive suggested it could take a year before a final decision needed to be made.

After conducting two studies with potential customers, the automaker is now confident that the potential benefits outweigh the drawbacks.

"Since unveiling the Bolt EV three months ago, the name has quickly become associated with Chevrolet," GM spokesman Michael Albano told the Detroit Free Press. "We checked with customers and dealers and affirmed our belief that the name is a good fit and the association with Volt was seen as a positive."

Unveiled early this year in Detroit, the Bolt serves to preempt Tesla Motors and other automakers planning to launch affordable EVs with an electric range around 200 miles. GM may be among the first to show a concept, but all companies appear to be waiting until battery prices drop far enough to make such models viable. The company had hoped battery startup Envia could bring its 'breakthrough' technology to market by 2016, however the Silicon Valley company's claims reportedly turned out to be exaggerated.

Despite the battery troubles, GM promises the Bolt will eventually be produced, carrying a price tag around $37,500. Tesla's Model 3 is expected to sell for approximately $35,000 when it arrives on the market.

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