Will GM take on Tesla Motors with 200-mile, $30000 electric car?(Read article summary)
General Motors is developing an electric car that can go 200 miles on a charge and would cost $30,000, The Wall Street Journal reports. The car would compete with luxury carmaker Tesla Motors, which plans to roll out its more affordable Model E late in 2016.
But while the General has the technology to build this new electric car, it won't go on sale particularly soon--due to high battery costs, said Douglas Parks, GM's vice president of global product programs.