Tesla Motors Inc (TSLA) Still Has A Year To Trump Chevrolet Bolt

Some think that Tesla Motors Inc (NASDAQ:TSLA) might be getting eclipsed by the eco-friendly Chevrolet Bolt, which was unveiled recently at the Detroit Auto Show. In a segment on Bloomberg, the most attractive features of this new vehicle were unveiled. Taking a look at these will reveal how tall the order is for Tesla.

“[…] The most critical feature is the price. Chevy says that the car will cost about $30,000, that is after $7,500 federal tax rebate. At the moment however the Bolt is just a concept, so you won’t see it in the dealerships for at least a year […],” said the reporter.

Tesla Motors Inc (NASDAQ:TSLA)’s CEO Elon Musk will indeed have a hard time matching that price, but in his defence the portfolio of vehicles that Tesla currently has under its umbrella are all luxury cars. Musk’s vision has been to reach the unthinkable in terms of performance and of course that comes at a price that Tesla Motors Inc (NASDAQ:TSLA)’s deep pocketed customers are willing to pay.

However, Tesla is definitely going to try to tap into the market segment of ordinary consumers of electric cars and its Model III is aimed for just that purpose, but it is yet to debut, and from the looks of delayed production of Model S, it is going to take some time.

A list of other important features of Bolt were also revealed on the segment.

“A battery powered car that will travel 200 miles between charges. That is more than double the range of the ultra popular Nissan Li. How did Chevy do it? A new ultra efficient battery and a host of light weight materials. It even cut vents in the fender so that the car would carry less metal. The interior is space aged […],” informed the reporter.

As far as mileage is concerned, Tesla Motors Inc (NASDAQ:TSLA) is already ahead as its new upgrade 3.0 for Roadster promises to deliver a range of up to 400 km on a single charge. However, the price tag of Roadster is not even comparable to Bolt.

Free Report: Warren Buffett and 12 Billionaires Are Crazy About These 7 Stocks

Let Warren Buffett, David Einhorn, George Soros, and David Tepper WORK FOR YOU. If you want to beat the low cost index funds by an average of 6 percentage points per year look no further than Warren Buffett’s stock picks. That’s the margin Buffett’s stock picks outperformed the market since 2008. In this free report, Insider Monkey’s market beating research team identified 7 stocks Warren Buffett and 12 other billionaires are crazy about. CLICK HERE NOW for all the details.