Tesla, take cover—General Motors is taking aim at the affordable electric vehicle market with the brand new Chevy Bolt, which was just unveiled at the 2015 Detroit Auto Show. The all-electric vehicle is able to travel 200 miles on a single charge, and it will cost about $30,000, which puts it squarely in the ring with the Tesla Model 3.
We’ve seen our share of exotic (and expensive) all-electric supercars, but EVs will need to break the price barrier if they’re ever going to reach mass appeal. Tesla is already working on its Model 3, which is expected to be priced around $35,000 (half the cost of a Model S), and now Chevrolet is throwing its hat into the ring with its new Bolt concept.
The Bolt addresses two big concerns with electric vehicles: their high cost and their low range. With a price tag of around $30,000, the Bolt will cost about the same as the Nissan Leaf (the current best-selling electric vehicle), however it will have a much larger range. Most gasoline-powered cars get well above 300 miles on a tank—and most of today’s electric vehicles can go about 100 miles before charging. Chevrolet has targeted the 200-mile range as the sweet spot for quelling concerns about the “range anxiety” that’s often associated with electric vehicles.
Chevrolet is planning to launch the Bolt EV in 2017, and inside sources say that it will be available in all 50 states.