GM ending production of Chevrolet Malibu

General Motors will cease production of its iconic Chevrolet Malibu sedan. 

The move comes as the Detroit-based automaker plans to revamp the Kansas facility where it makes the Malibu so that it can produce the upcoming electric Chevrolet Bolt model there.

"To facilitate the installation of tooling and other plant modifications… GM will end production of the Chevrolet Malibu in November 2024 and pause production of the Cadillac XT4 after January 2025," a GM spokesperson told FOX Business.

The company also builds the Cadillac XT4 at its Fairfax Assembly Plant. The facility, located in the Kansas City area, will receive roughly $390 million worth of investment as part of GM's efforts to ready it for building the new Bolt.

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GM has been shifting away from cars in favor of building more crossover and sport utility vehicles in recent years. The Malibu is the last remaining Chevrolet car offered in the U.S. besides the Corvette.

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The automaker reported over 130,300 deliveries of the sedan in 2023. In the six decades the Malibu has been available, more than 10 million people have bought it, according to reports.

"When production resumes in late 2025, Fairfax will produce both the Bolt EV and XT4 on the same assembly line, which gives GM flexibility to respond to changes in consumer demand," the GM spokesperson said.

GM first revealed it had plans to bring a new Bolt to market last summer. The electric vehicle will feature "various Ultium and Ultifi technological advancements," the automaker said at the time.

The first edition of the Bolt debuted seven years ago.

Reuters contributed to this report.