Chevy Bolt to take on Tesla

General Motors has unveiled Chevy Bolt, a 100% electric car, to take on Tesla Motors and its small electric car offering. Bolt’s concept was unveiled by General Motors in January 2015. And, the company has been quick to translate the concept into reality and present it to the public at an introductory price of $37,495 for the LT version. The price fits in nicely with the planned pricing scheme of General Motors because electric cars would get a Federal subsidy of $7,500 to make it a $29,995 price tag for the LT version.

Bolt’s price and mileage of 238 miles on a full charge are likely to offer strong inducements for people to move over from fossil fuels to electric car. With an average US driver not driving more than 40 miles a day, one charge on Chevy Bolt would see the week’s office commutes taken care of. The company also hopes to wrest control of the small electric car market from Tesla Motors, which is yet to bring out its own small car. In a way, General Motors beat Tesla Motors into creating a mass market electric car.

Chevy’s previous version of electric car, Chevy Volt has been selling in small numbers since 2011. Volt was a hybrid or duel fuel technology as it had a very limited mileage of around 43 miles on a full electric charge. This made is unsuitable for someone looking to use Volt as a primary commute, since the primary fuel of choice in Volt would have been gasoline. Interestingly, Bolt is likely to challenge Tesla and Nissan’s Leaf in an unequal measure. So, it would be pretty interesting to watch out for developments in the electric market space to see how companies innovate in a bid to take lead in electric car market share.

Below is a video that compares Chevy Bolt with Tesla’s proposed model and Nissan Leaf.