But where Bolt will be on sale before the end of this year, Tesla's entry won't reach showrooms until at least the middle of 2017.
GM said at the Bolt's introduction in 2015 that the compact CUV would have a range of more than 200 miles (322 km) and cost about $30,000 after government rebates, but would not be more specific. GM has not announced one, but based on the price of its stablemate Volt at $33,220, it probably will be low enough to compete with Tesla Motors Inc.'s (NASDAQ: TSLA) Model 3.
Hillary Clinton's health: Separating fact from fiction
Told Clinton in a follow-up message, 'Like anyone who's ever been home sick from work, I'm just anxious to get back out there. Clinton later revealed that she had been diagnosed with pneumonia the Friday before the event.
Whether or not the Bolt's range can jump start America's interest in electric cars, remains to be seen. While the Bolt and Model 3 are competing against each other, both are in a much bigger competition with the millions of ICE (internal combustion engine) cars that are sold every year.
However, consumers may look at the lower price-point of the Bolt and see an opportunity to grab an environmentally-friendly, economical vehicle that is affordable both to buy and to drive.
The Model 3 will be priced about $35,000, Tesla has said. Both the Bolt (not to be confused with the Volt, Chevy's gas-electric hybrid) and the Model S use a 60 kw/h battery, Mashable reports. Several states offer additional tax credits, as well. Late next year, Tesla plans to start selling the more affordable Model 3. For all we know, Elon Musk could engage in a one-upping war with General Motors and use some fancy Tesla battery tech to boost the range of its entry level vehicle. But then again, it's not bad from an EV that can seat five at a squeeze in a 4.17-meter long body with a 381-liter (13.45 CuFT) trunk. GM might be beating Tesla to market with its Chevy Bolt. And now on the more affordable side, Tesla will now have to contend with the Chevy Bolt. "This combination doesn't guarantee success, but it will finally put EV technology to a real-world test in appealing to real-world, mainstream consumers". "While range is important, we knew Bolt EV owners would want more - more space and more power - and the Bolt EV delivers", said Bolt EV Chief Engineer Josh Tavel.