They already changed course on this, and have stated they will reintroduce the Bolt and it will actually use the Ultium platform:
https://media.chevrolet.com/media/us/en/chevrolet/home.detai...
https://media.chevrolet.com/media/us/en/chevrolet/home.detai...
I'm guessing the Honda was supposed to be based on the equinox and as the Honda that is coming was based on the blazer. the promised 30k equinox will probably never show (at that price) so Honda said lets cancel it.