Chevy Bolt: All Electric, 200 Mile Range, Costs $30k

GM may one day unleash a vehicle that could pose a great threat to the Tesla Motors electric vehicle fleet. General Motors CEO, Mary Barra, announced today at the Detroit Auto show that the rumors are true, meaning the Chevy Bolt exists. GM has now shown the world they are a major player in the electric vehicle market and have a potentially incredible product.

During the unveiling of the new vehicle GM CEO Mary Barra said, “This is truly an EV for everyone. For most people, this can be their everyday driver.” The Chevy Bolt, not to be confused with the Chevy Volt, is an all-electric vehicle. It boasts a 200-mile range and is expected to cost $30,000 after a $7,500 tax credit. The President of GM North America, Alan Batey, said the timing of this EV is ideal. Batey, speaking about the Bolt at the Detroit Auto Show said, “We’re pretty convinced that this is the right vehicle at the right time. We’ve got this pretty much nailed down and we know how to do it. We would not have come here today and talked about 200 miles and $30,000 if we didn’t really know how to make that happen.”

However, the questions of if and when the Bolt will happen weren’t answered at the Detroit Auto Show. Barra didn’t provide details about the production schedule for the Bolt, however, the L.A. Times is reporting that it’s scheduled to be available by 2017. If Chevrolet can have an EV in mass production inside of two years with a 200-mile range then they would have truly invasive addition to the electric car market.

Chevy would be invading the market where Nissan and Tesla Motors currently have a firm standing. The Nissan Leaf is the top selling electric car in the U.S. and Tesla Motors is an all-electric automaker. However, Tesla has thus far failed to create an electric vehicle for the masses. Their Model S sedan costs over $70,000 and the forthcoming Tesla Crossover Model X has also been priced out in that same higher-than-average range. Tesla has made a huge investment in what they hope will be the Model III Sedan, a more reasonably priced electric car. That EV, like the Chevy Bolt, is expected to have a range of about 200 miles. However, the Bolt was unveiled at the Detroit Auto Show and the Model III is still only a future goal.

Tesla must first successfully build their Gigafactory in Nevada and lower the cost of Lithium-Ion batteries in order for them to be able to sell their Model III Sedan for $35,000 (after tax credit). GM’s President of North America, Alan Batey, also noticed that Tesla Motors doesn’t have any vehicles currently in production geared towards the masses. On the subject of the Bolt Batey said, “They (Tesla Vehicles) are for the rich and famous. This is for the people… I haven’t seen Tesla with anything like this.”

Tesla actually issued a statement earlier today offering kudos to GM. That statement read in part, “Tesla is always supportive of other manufacturers who bring compelling electric vehicles to the market. We applaud Chevrolet for introducing the Bolt and are excited to learn more about the product.” Tesla is certainly supportive of the creation of more electric cars. That’s the support that led Elon Musk to release many of their patents to be used by other companies in the development of more all-electric vehicles. Akshay Anand, an analyst at Kelley Blue Book, told the Detroit News that this new Bolt ups the ante in the electric car market. Anand said, “…If the Model III does in fact deliver similar range and pricing, many consumers may opt for the Tesla simply because of the nameplate — assuming supply is available. Chevy will need other key features to differentiate.”

What GM may do to differentiate themselves from competition such as the Tesla Model III remains to be seen, as the vehicle doesn’t currently exist. Do you think that electric cars like the Chevy Bolt represent the future of retail automotive? How important is it that GM has developed this possible competition for Tesla Motors?