Responding to speculation that the proposed 'Bolt' moniker for Chevrolet's new all-electric subcompact was too close to that of the existing (and soon to be rejuvenated) Chevy Volt, GM's marketing boss has confirmed that the Bolt badge is here to stay.
Speaking to USA Today, General Motors Chief Marketing Officer Tim Mahoney said that the name was locked in, and that the association between the Bolt and Volt badges "connotes good things" and is about more than just simple wordplay.
According to Mahoney, the name performed well with two focus groups. With the Volt already being an established player in the growing eco-car segment, it makes sense for GM to leverage any links it can make with that name.
A precise timeline for the Bolt's introduction - as well as confirmation of a future for the all-electric model in Australia - has yet to be announced, given its still fresh from its debut at the Detroit Motor Show at the start of this year.
However it is definitely coming. GM announced that it will invest US$200 million to retool its Orion assembly plant in Michigan to build the Bolt.
GM's North American President Alan Beatty said the company was moving quick on Bolt due to its capability to "shake up the status quo for electric vehicles", issuing a thinly-veiled challenge to Tesla Motors and its upcoming Model 3 small EV.
As such a production model may be unveilled shortly after the debut of the all-new Volt, due for sometime in the latter half of this year.
Technical details are still closely under wraps, but a range in excess of 321km on a single charge is promised by GM.
As for how much the Bolt will cost, current estimates say it will be priced somewhere in the region of US$30,000 in its home market.
To put that into context for Australia, the current-gen Volt retails in America for $34k, and is priced at $59,990 over here, where it's sold as the Holden Volt.