In the Race for a Better EV, the More the Merrier

Chevy Bolt

The North American International Auto Show was held earlier this month in Detroit, showcasing some stunning new concept vehicles. General Motors debuted their concept for the Chevy Bolt, an all-electric car with a driving range of over 200 miles. After tax incentives, the Bolt would cost just $30,000, making it very affordable for the average car buyer. GM’s current hybrid model, the Chevy Volt, has an electric driving range of about 40 miles and costs $34,345. The new Chevy Bolt could really calm range anxiety for potential buyers, making electric an easier choice over gas. GM hopes to introduce the Bolt to the market as soon as 2017.

Coincidentally, Tesla hopes to release their Tesla Model 3 around the same time. The Model 3 would also have a driving range of 200 miles and would cost $35,000. Compare that to Tesla’s previous model, the Model S luxury sedan, which had a starting price of $80,000. No cars exist today with such a long driving range and affordable price tag, so either model, the Bolt or Model 3, would truly be groundbreaking.

 

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Some critics are pitting the cars against each other, calling the Bolt the “Tesla-killer”. However, Tesla doesn’t see the introduction of a competitor car as a threat to the company, but as a success. For EV manufacturers, the greatest obstacles aren’t competitor electric cars, but the lack of infrastructure for EV’s compared to gas-powered cars. To encourage the construction of more EV infrastructure, Tesla offered their patents to its competitors last year. Tesla shared their precious findings in the hopes that more car-makers would invest in electric-vehicle technology, making Tesla (or any EV manufacturer) more likely to succeed. Tesla representative Alexis Georgeson told Business Insider, “We are always supportive of other manufacturers who bring compelling electric vehicles to the market. Tesla applauds Chevrolet for introducing the Bolt, and we are excited to learn more about the product.”