For some time now, Tesla has been practically unchallenged in the electric car market. But that may soon change, especially with the coming of the 2017 all-electric Chevy Bolt. Meanwhile, Tesla is a month away from unveiling the much-anticipated Model 3.
Tesla Chief Executive Officer Elon Musk has promised that they will be releasing more details about the upcoming Model 3 in the coming weeks. For the moment though, customers may be happy to know that a down payment of $1,000 is all they need to reserve one, beginning March 31 in Tesla stores and online by April 1. During a recent interview with Bloomberg, Musk confirmed that the price of the Model 3 will be $35,000, exclusive of federal and state incentives granted to electric car customers.
The Model 3 is intended to appeal to the mass market while rivaling the BMW 3 Series in size and price tag. Moreover, the car is expected to go up well against the likes of the Mercedes C-Class, Jaguar XE and Audi A4. And while the car will be unveiled to everyone this March, those who reserve will have to wait longer to drive one, as Auto Express reports that production of the Model 3 will start the following year. In fact, the first set of deliveries is only expected to happen mid-2017.
Meanwhile, General Motors has unveiled the 2017 Bolt EV, at least on its website. It promises electric economy, with a single charge able to cover more than 200 miles. This upcoming electric car can get fully charged in 9 hours using a 240-volt charging unit. And when it’s fully powered up, the Bolt can cover as much as 25 miles of range per hour of charge.
General Motors says the Bolt will sell for as low as $30,000 after federal tax credit. And with this electric car becoming available later this year, it seems the company will be poised to take first crack at the mass electric car market after all.