General Motors executives recently confirmed that the company is working on an all-electric Chevrolet with a range of 200 miles and an expected price tag of around $30,000. Details on the new EV are scant; but it is expected to rival Tesla’s forthcoming 200-mile, $35,000 Model III, which is due to be released in 2017.

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According to the Detroit Free Press, the new GM EV was unveiled to investors on the condition that no photographs were taken, and press were allowed to listen-in by audio feed only. What is known that the vehicle will have a different drivetrain than the Chevy Volt and ELR (both hybrids), and will also differ from the 82-mile Chevy Spark, GM’s only all-electric car, though other details are largely the stuff of rumors.

CleanTechnica reports that the new EV may, in fact, be based on the Chevy Sonic—earlier rumors suggested that a 200-mile Chevy Sonic EV is scheduled for release in 2016. Additionally, it is also rumored that LG may be involved in the production of this new electric vehicle.

If they are cooking up a rival to Tesla’s highly anticipated 2017 affordable EV release, GM may be hoping to make up for the disappointing sales of hybrid Chevrolet Volt, which sold only 1,400 units in September, with sales down 13% compared to the previous year. But, this would only be the case if the new EV is sold nationally. At present in the US, the Chevy Spark EV is sold only in California and Oregon – states that mandate a certain number of electric vehicles.

At the same secretive unveiling GM reportedly also showed investors the redesigned Chevrolet Volt, which will “leap-frog a lot of the competition,” according to global product chief Mark Reuss.

Via Clean Technica