General Motors Co. said Monday its Chevrolet Bolt electric concept would have 200-plus miles of electric range and cost about $30,000, and may come to market within a year or two.
While GM CEO Mary Barra wouldn't say for sure if the vehicle will go into production, she did say the all-electric vehicle would be sold across the U.S. and in select global markets. She declined to provide which markets GM is considering.
Alan S. Batey, GM North America president, declined to say when GM would build the Bolt, but GM's head of global product development, Mark Reuss, said the vehicle could be coming within a year to a year and a half.
Batey said, "We're pretty convinced that this is the right vehicle at the right time. We've got this pretty much nailed down and we know how to do it. We would not have today come here and talked about 200 miles and $30,000 if we didn't really know how to make that happen."
Chevy took the wraps off the orange hatchback, with seating for five and the utility of a crossover, at the North American International Auto Show. It also revealed its new 2016 Chevrolet Volt, intended to get 50 miles of electric range.
The Bolt's $30,000 price tag is after a $7,500 federal tax credit, Batey said.
"For most people, this can be their everyday driver," Barra said.
Batey said the Bolt isn't aimed at Tesla, noting Tesla's average transaction prices top $100,000.
Reuss said the Bolt likely would not replace the Spark EV, an electric car Chevy now sells only in California and Oregon.
"I think we've got a great car with the Spark BEV," he said. "So we'll run that for awhile."
Reuss would not say where the Bolt would be built, but GM has announced plans for another vehicle to come to its Detroit-Hamtramck Assembly and Orion Assembly plants.
Akshay Anand, an analyst at Kelley Blue Book, said the Bolt's range for $30,000 sounds like a great deal and "puts the heat on Tesla's Model 3 to knock it out of the park like the Model S did."
Michael Simcoe, executive director of global design for GM's International Operations, said the Bolt is more of a subcompact, but the interior is roomier, up a segment size.
Reuss said Chevrolet will reveal new versions of the Cruze, Malibu, Camaro and Spark.
Phil Berg contributed.