General Motors is developing an electric vehicle that will be capable of going 200 miles on a single charge, according to USA Today.
Doug Parks, GM'S vice president of global product programs, discussed the new vehicle on Sept. 16 at the company's Warren, Michigan facility. He failed to say when the vehicle will be made available however, but people are already talking about it competing against other EVs like Tesla's Model S.
The technology to produce the vehicle is available now, but the cost of the batteries is "too high" to successfully make and release the vehicles for a reasonable price.
The new GM vehicle will be sold for around $30,000 according to USA Today.
"That would be a huge step forward, no question," said Tom Libby, lead North American analyst for the Polk automotive research firm.
The 200-mile vehicle would be a lot cheaper than Tesla's all-electric Model S, which is sold for approximately $71,000.
The Model S can go 265 miles on a single charge.
The Detroit automaker sells the $35,000 Chevrolet Volt plug-in hybrid, which can go 38 miles on electricity before a driver needs to switch to gas.
Other GM electric models available includes the Chevrolet Spark, which goes 82 miles on a charge.
Electric vehicles are eligible for a $7,500 federal tax credit.
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