GM develops long-range electric car to rival Tesla

GM develops long-range electric car to rival Tesla

NEW YORK (MarketWatch) -- General Motors Co. GM +1.63% is working on a $30,000 electric car that can travel 200 miles on one charge, providing a challenge to startup Tesla Motors Inc. TSLA +0.55% , according to a Wall Street Journal report. The Journal said GM revealed the effort Monday at a GM facility in Warren, Mich. but the auto maker didn't give a date when the car would become available, saying battery costs remain too high today. Tesla has been the lone auto maker to offer long-range electric cars, with others offering hybrids or shorter-range electric cars, the report added. Shares in GM were up 0.1% in premarket trade, while Tesla fell 1%.

Source:
http://www.marketwatch.com/story/gm-develops-long-range-electric-car-to-rival-tesla-2013-09-17

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