Looks like the control for Front Automatic Braking. It works in conjunction with Forward Collision Alert and the warning distance can be set. It's interesting that on all other GM vehicles, it's only available when you have Adaptive Cruise Control, which has been stated as "not available" on the Bolt. Supposedly because they'd need to use "blended braking".
Forward Collision Alert may “see” a crash situation before you do, and can alert when a driver when a crash into a vehicle you are following is imminent. Uses front camera and/or radar. Available on 2015 Volt, Malibu, Impala, Equinox, SS, Traverse, Colorado, Silverado, Tahoe and Suburban.
Other Chevrolet crash-avoidance features include Front Automatic Braking, Adaptive Cruise Control and Lane Departure Warning.
Front Automatic Braking automatically applies the brake when the system may see a crash situation ahead before you do, and can be thought of as a “backup” or “Plan B” if you do not respond quickly to Forward Collision Alert warnings, or if a rear-end crash situation quickly unfolds. At lower speeds, the feature may even help avoid the crash, while at higher speeds, it can reduce crash severity and injury. Uses front radar.
I am very glad to see the heated steering wheel. Makes a big difference when used in conjunction with heated seats to save battery.