The Chevy Bolt's body style and design was not made to compete with Tesla model 3.
The new Bolt is rated at 238 miles per charge compared to the Model 3's expected 215 miles per charge.
Tesla Motors (NASDAQ:TSLA) and General Motors are both fighting for the same slice of the same cake. The price is almost half of Tesla's cheapest model which costs $66,000.
News of the Chevrolet Bolt's 238 miles of electric range will change the calculus for many EV shoppers, especially those considering the outgoing Nissan Leaf or eyeing the vaporwarish Tesla.
I'll say it upfront: if you're looking for a good electric vehicle, the Chevy Bolt is not a bad option. On the other hand, the Chevy bolt is not trying to be a sports sedan.
The Bolt also has some pretty impressive tech features, including its fully digital rearview mirror and its wireless charging console.
General Motors Reveals 2017 Bolt EV Price (GM)
Citing a GM insider, Bloomberg revealed that the Bolt hatchback will apparently have more cargo room than the Model 3 and can be repaired at any of GM's 3,200 Chevy dealers, compared with Tesla's 208 fix stores.
The sticker price for the Bolt is expected to be about $37,500 when it reaches vehicle lots this fall, in the same neighborhood as the Model 3, Tesla's first auto designed for the mass market. The market leadership of the Chevy Bolt lies in the fact that it would get to the market long before the Model 3 becomes a finished product.
The price of that upgrade hasn't been released, but it seems safe to assume it would cost the standard extra $3,000 it costs to activate in the Model S and Model X. That's just $500 more than the $37,500 Chevy Bolt before federal tax credits, and you're getting a suite of semi-autonomous tech you simply can't get in the Bolt.
Then there's the design of the vehicle. Just look at it!
Bolt EV chief engineer Josh Tavel said, "While range is important, we knew Bolt EV owners would want more-more space and more power-and the Bolt EV delivers".