General Motors is planning to launch a new electric car by 2017 that can pose substantial competition for Tesla and Nissan.
The concept car named Chevy Bolt, introduced in the price range of $30,000 is claimed to travel up to 200 miles on a single charge.
The car will have a battery manufactured by LG Chem of South Korea, the company’s long- time battery production partner.
GM has plans to reveal the new electric-vehicle initiative at the North American International Auto Show held in Detroit on Monday.
Earlier this week, GM, revealed its Chevrolet Volt plug-in car at the Consumer Electronics Show (CES) in Las Vegas.
The Volt, a gas-electric hybrid can travel a short distance on battery-only mode and is equipped with a range-extending engine.
So far, GM has sold around 70,000 units of Chevrolet Volt worldwide.
Tesla Model S, the prime competitor of GM electric version belonging to luxury segment, costs around $70,000.
Nissan’s Leaf that sells for $21,000 after federal and state tax incentives for electric vehicles has an average range of about 84 miles.