Will Bolt EV Give a Jolt to GM Earnings Call?

Burney Simpson

The 2017 Chevrolet Bolt EV may include autonomous technology and Lyft drivers will get the first models off the production line, according to a flurry of news reports.

GM executives are considering addressing these topics during the auto OEMs second-quarter conference call on Thursday even though the Bolt EV won’t be officially released until late this year.

First, the electric-powered Bolt will include technology from Cruise Automation, the developer of self-driving systems that GM bought early this year, reports Motley Fool.

The Verge reported in May that Bolts outfitted with autonomous tech sensors were being live tested on San Francisco streets and Cruise co-founder Kyle Vogt was behind the wheel of one of them.

Second, the 2017 Bolt EV may be offered initially to Lyft drivers in California and Colorado through the ridesharing firm’s Express Drive program, Fortune disclosed. GM invested $500 million in Lyft in January.

Express Drive offers special rental prices on select GM vehicles to Lyft drivers who complete a certain number of rides per week. The Express Drive program has been over-subscribed since it was launched in Chicago and expanded to three more cities. Los Angeles and San Francisco may offer the program this fall.

Full production of the 2017 Bolt EV could begin in October according to Green Car Reports. Plans call for a base price of $37,500 and a production level of about 25,000 vehicles.

RIDESHARE + AUTONOMOUS = REAL INTERESTING

GM President Dan Ammann said at a Fortune conference this month that both rideshare and autonomous vehicles are interesting “and it gets really interesting if you put the two together.”

GM’s call to analysts to discuss second quarter results is scheduled to begin this Thursday at 10 a.m. Eastern time.

Along with revenues and earnings numbers, GM will tell analysts the price it paid for Cruise, a figure it has kept under wraps. Many press accounts estimated San Francisco-based Cruise cost GM $1 billion.

Proponents believe the 2017 Bolt’s 200-mile range will alleviate consumer concerns about running out of power. It is set to compete with two other electrics in the mid-$30,000 range - the Tesla Model 3 and the remade Nissan Leaf.

The Bolt may get the glory if it comes out first. The Model 3 has garnered about 400,000 reservations even though it won’t be put into production until the fall of 2017. The Leaf is scheduled for the 2018 model year.