General Motors (NASDAQ:GM) is reportedly planning to roll out a Chevy Bolt electric vehicle with 200-mile range in 2017. The household-sized sedan is expected to be priced at $30,000 to compete with Tesla’s Model three luxury sedan and other electric cars.
The concept version of the car will be revealed on Monday at the North American International Auto Show in Detroit. The family size sedan, similar to the level model 3 priced at $35,000 while GM’s electric vehicle will be priced at $30,000 and 200-mile range. An improved version of the Chevy Volt all-range electric vehicle will also be showcased at the auto show.
“The Chevy Bolt will be a hatchback designed to look extra like a so-called crossover automobile,” said a source.
The Chevrolet Volt was released in 2010 that ran 38 miles on electric power and remained dependent on fuel. The $35,000 vehicle aimed at consumers who worry about running out of fuel. According to the source, the upcoming vehicle will run on lithium-ion battery manufactured by LG Chem in the company’s factory in Holland, Mich.
LG Chem CEO Prabhakar Patil stated that the company had progressed enough for a higher level of confidence in 017. The company stated that its manufacturing facility can provide about 20,000 battery packs that support the vehicles 200-mile range. GM spokesperson Terry Rhadigan declined to comment on the vehicle release in 2017. The Bolt also has a similar name to the Volt that would showcase the company’s improvements in innovation over the years.
So far, the Volt has been a failure for GM as it had sold only 73,000 units with 18,805 units old in 2014. The company hopes that the revamped version of the Volt featuring a gasoline generator for supporting the vehicle after 200-mile range will find a market among consumers. The all-electric Chevy Bolt will be available for $30,000 in 2016.
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