January 10, 2015 / 6:58 PM / 3 years ago

General Motors plans fresh move into electric car market: report

WASHINGTON (Reuters) - General Motors Co (GM.N) plans to offer a new electric vehicle with a style and price-point that can compete with the forthcoming Tesla Model 3 car due out in two years, the Wall Street Journal reported on Friday.

The General Motors logo is seen outside its headquarters at the Renaissance Center in Detroit, Michigan in this file photograph taken August 25, 2009. REUTERS/Jeff Kowalsky/Files

The $30,000 electric car called the Chevrolet Bolt, expected to debut commercially in 2017, will be able to drive 200 miles on a charge and is intended to cut into a market where Elon Musk’s Tesla Motors Inc (TSLA.O) has been an investor darling.

Electric car purchases badly lag sales of gas-powered vehicles but the market is growing and GM will show off an early model of the Bolt at the Detroit auto show next week to stake a stronger claim in the space, the newspaper reported.

The Chevy Bolt will boast a stronger battery manufactured by South Korea’s LG Chem Ltd (051910.KS), the paper reported.

(Story corrects name of Tesla car to Model 3 from Model S in first paragraph)

Reporting By Patrick Rucker; Editing by Alan Crosby

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