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Will GM take on Tesla Motors with 200-mile, $30000 electric car?

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Jeff Kowalsky/Reuters/File

(Read caption) The General Motors logo is seen outside its headquarters at the Renaissance Center in Detroit, Mich. General Motors is reportedly developing an electric car that could rival future Tesla Motors models.

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So far, the Tesla Model S is alone among plug-in electric cars in providing 200 miles or more of electric range.

But as Tesla Motors [NSDQ:TSLA] prepares to roll out its more affordable Model E late in 2016, it may face serious competition from General Motors.

GM is developing a Tesla-rivaling car that can go 200 miles on a charge and would cost $30,000, The Wall Street Journal reports.

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.

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