General Motors Company (GM) Ready To Battle Tesla Motors Inc (TSLA) With 200 Miles Chevy Bolt

General Motors Company (NYSE:GM) is pursuing the electric car space with gust having unveiled a 200 miles concept Chevrolet Bolt that will go on sale for $30,000. During an interview on CNBC, CEO, Mary Barra reiterated that Chevy Bolt was a mixture of what customers have been yearning for with the integration of the best of technology in the electric cars space.

“We have always been looking at what’s next what can we do; we’ve listened to our customers, so the Bolt EV concept is really a natural flow from work that we have done. The expertise that we have in electrification and listening to our customers of what they want,” said Mrs. Barra.

Affordability seems to have come into play something that a number of people have been calling for, over the years, with regards to Tesla Motors Inc. (NASDAQ:TSLA)’s models. The CEO also emphasized that focus shifts to allocating all the required resources in the electric space; a move intended to spur growth as well as positioning General Motors Company (NYSE:GM) as the leader in the industry.

The car has not yet been slated for production, but the company has affirmed its commitment that it might be produced in as little as 18 months. Barra also affirmed that General Motors Company (NYSE:GM) will be more than ready to produce up to 30,000 units of the Bolt should demand deem so, margins that Tesla targets annually. The 200 mile range could be increased in the future according to the CEO as the technology continues to evolve

“We are continually working; we have a great battery partners, LG being one of them. We are going to continue to look and advance the technology. I think you will see both the Bolt and concept vehicles and the new Volt we have really added a lot of technical expertise in the development,” said Mrs. Barra.

General Motors Company (NYSE:GM)’s 200 miles Bolt is primed to be a direct competitor to Tesla’s Model 3 that is also slated for release sometime in 2017.

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