and prize I want to start with you because you're looking at an EV card that's back from the dead the bolt is back the bolt uh is three months after yeah it was a short death yeah so today on the GM earnings call maryborough in the beginning of the call said that the Chevy bolt EV which they said was ending production last quarter is not coming back as a next gen model next gen by the way is a corporate buzzword which will we will get to later anyway they call it it's called The Next Gen ball TV it's gonna come back like I said gonna be powered by the Altium battery platform which is uh according to GM going to be a cheaper platform from the build on um the new car will I imagine will likely be in that same thirty thousand dollar ish price range because that's where the bolt made it made its its money right it's it is a cheap Evie for the masses and GM sold more than they ever have in the last two quarters so it was surprising to see it go but I'm not surprised to see it come back what's interesting to me is the number that GM threw out which is 70 of drivers who trade in a vehicle to get the bolt traded a non-gm vehicle at the end of the day when you think about the EV transition it is about GM trying to appeal to a y lighter wider swap right we're at five percent market share right now in terms of new buyers EV sales GM is the name as well as Ford that's supposed to get it to a much wider Spectrum so not only is it people who are buying in on GM who usually wouldn't it's also the price point and that's why it's interesting that just three months after the fact they're bringing it back yeah and what do you think the price point will mean for a company like Tesla especially since we're seeing these pricing Wars occur I was I'm curious if did Tesla have any price stock reaction after the news broke but Jim I didn't see any reactions to that I know that the model 3 if you include the federal tax credit is like 33 right so that's competing in that same that same class and right now I think GM thinks that if if they need to compete against the Tesla Model 3 they're going to make the bolt better and that might include that ultimate platform well and we're talking about 7 500 tax credit that's Federal but if you've got states which I always like to bring up because in California it's 7 500 on top of that I mean that is a steep discount when you think about a model 3 which is why you see them everywhere in California and many other states too right so so GM is going into that market trying to compete it is about a lower price point and I'm curious if we're talking five percent to get to ten percent where is that market is it in sort of these trucks you know the F-150 Lightning these other trucks that are selling at a higher price point or is it on the lower end from drivers who are saying I don't want to be paying gas prices but I also don't have seventy thousand dollars to buy a new car I think if we're going to get even past 10 it's got to be at that lower end than the the middle class buyer that wants to go into electrics when right now they're being priced out they don't have many options aside from the bull which they're getting rid of right so that's going to come online I think you're right you forgot about the leaf the leaf with the leaf I don't think it's competitive in terms of range but but I think you're I think it's I think trucks too because trucks are such a huge the biggest Market in America is trucks you can make those trucks cheaper and good range yeah yeah I mean we're seeing EV adoption pick up across the board so I'm very curious to see the sales for those bolts
