Not sure if it will replace anything, as there is almost no information.
These points come to my mind:
1. Spyshots have been published of the new international Cruze running with camouflage in China. That car appears to be half a segment bigger than this Cavalier. (This is what initially, erroneously, led me to believe the Cavalier was that car until I compared the dimensions.)
2. The wheelbase is 2600 mm, which matches that of the Lacetti-based Buick Excelle from 2003. The other dimensions are similar. But it is strange that a Chevrolet would replace a Buick.
3. The Cavalier is also dimensionally similar to the Baojun 630/new Optra, which has a wheelbase of 2640 mm and which is related to the Excelle above. Yes, the Cruze Classic too is very close in size to this car, although the wheelbase is more like 2700 mm (2685).
So we don't know what platform the Cavalier uses - the J200 or a shortened J300/Delta II.
4. There has been no production or sales of the Chevrolet Aveo (T300) after November last year, which coincides with the launch of the Lova RV. There is no official confirmation that the Aveo has been withdrawn, so this suspension could be temporary. Moreover, the Cavalier is a segment higher than the Aveo.
Pending further info, feel free to draw your own conclusions!