Expected rollout of new $30,000 Chevy electric vehicle could set up GM for showdown with Tesla

MarketsAssociated Press

General Motors is expected to roll out a new electric vehicle priced for the masses — and more cheaply than its current electric, which hasn't sold as well as expected.

With the introduction of a $30,000 Chevrolet electric car, expected to be named the Bolt, GM would set up a showdown with Silicon Valley's Tesla Motors.

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Tesla plans to deliver a mass-market $35,000 electric car by 2017. Both the Tesla and the Chevy would go 200 miles per charge.

The announcement of the Bolt is expected Monday at the Detroit auto show. GM is also unveiling an updated version of the Chevy Volt, which debuted in 2007. The Volt's $40,000 sticker price proved too steep for many buyers — even though they were eligible for a $7,500 federal tax credit.