It is with mixed emotions that we announce the end of production for the Chevrolet Bolt EV and Bolt EUV at the conclusion of the 2023 model year, after six great years. The Bolt EV and EUV were our company's first high-volume, long-range, affordable all-electric vehicles, and they attracted many new customers to the Chevrolet family, driving some of the highest conquest rates across our portfolio.
At launch, the Bolt EV represented industry-changing technology and an industry-leading ownership experience with the Charged by Chevrolet Program. Later, the EUV was the first Chevrolet to offer GM's hands-free driving experience with Super Cruise. While we have learned a lot from the Bolt and have had many great successes, every vehicle has a lifecycle that eventually comes to an end.
It's time for Bolt to pass the baton to our Ultium-based EVs – Silverado, Blazer, and Equinox EV. This will enable the manufacturing capacity, batteries, and human capital to bring them to market. The new Ultium-based EVs are going to play in the industry's biggest and the fastest-growing segments, giving us more market coverage and volume – and even better vehicles.
We want to assure you that ordering for the Bolt will continue throughout the summer, with production of the Chevrolet Bolt EV and Bolt EUV continuing at Orion Assembly until late this year. Furthermore, GM's Orion Assembly facility, where the Bolt is built, will receive a $4 billion investment to convert this plant to build the Silverado and Sierra EVs. Orion is going to join Factory Zero as the second manufacturing location to build the electric Silverado, starting next year to help boost the company's annual EV capacity.
We want to thank you for all your partnership in laying the EV foundation. The electric future is bright at Chevrolet, and we're just getting started! Please know that we remain committed to bringing you the best vehicles and driving experiences.