Quick translation: GM is developing a Tesla rival.
Perhaps General Motors is realizing that in light of Tesla's huge success with its Model S, its Chevrolet Volt simply won't do anymore. Not that the Volt is a bad car. In fact the next-gen model is on the way soon, but Tesla has proven that a pure EV can be both reliable and realistic in terms of how far Americans drive their cars. Because of this new reality, the Wall Street Journal has just reported that GM is currently in the process of developing a new electric car that will have a 200-mile range.
However, it won't be a competitor to the famed Model S. Instead, this new GM EV will rival Tesla's upcoming entry-level model, due in 2016. GM has a target price of around $30,000 in mind, which is around what Tesla claimed its new model will cost. The last time GM did a pure EV was back in 1996. We all know how well that turned out (note the sarcasm), so it'll be interesting if this second attempt will be successful. The bottom line is that GM now views Tesla as a legitimate rival.