Tesla Motors Inc. (NASDAQ:TSLA) should not fear the launch of Chevrolet Bolt by General Motors Company (NYSE:GM)

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By Chris Hillman on January 13, 2015 Automobile

The General Motors Company (NYSE:GM) has planned to introduce its redesigned Chevrolet Bolt, which is a 200 mile ranged electric vehicle. This is planned to be introduced in the Auto Show which will be held in Detroit. This Chevrolet Bolt is expected to give competition to electric vehicle intended to be launched by the Tesla Motors Inc. (NASDAQ:TSLA).

However, as per Bidness Etc, Tesla Motors Inc. (NASDAQ:TSLA) should not be worried about the launch of electric vehicle by the General Motors Company (NYSE:GM), rather this is what Tesla Motors Inc. (NASDAQ:TSLA) wanted from the beginning. Tesla Motors Inc. (NASDAQ:TSLA) has planned to officially launch its electric vehicle, Sedan, also known as Model 3, in 2017. Meanwhile, General Motors Company (NYSE:GM) has also planned the launch of Chevrolet Bolt in the same year.

Tesla Motors Inc. (NASDAQ:TSLA) has set goals for the new Model 3 rather high. The company intends to sell as many as 500,000 vehicles by the year 2020. However, to get the results, Tesla Motors Inc. (NASDAQ:TSLA) needs to plan aggressive marketing strategy, and it’s these goals which have attracted the investors in favor of Tesla Motors Inc. (NASDAQ:TSLA). While many competitors plan to compete with Tesla Motors Inc. (NASDAQ:TSLA), and this may be worrisome, Tesla Motors Inc. (NASDAQ:TSLA) has nothing to be worried about in the long haul.

It is expected that as compared to Model S of Tesla Motors Inc. (NASDAQ:TSLA), which is offered at a price of $70,000, the new model 3 will have much less of the flare. Though Tesla Motors Inc. (NASDAQ:TSLA) has not made any other information about its new vehicle public.

Tesla Motors Inc. (NASDAQ:TSLA) has revealed only a very limited amount of information about the Model 3, and that too is unclear. When asked for information about the new electric vehicle at the Reddit AM, Elon Musk, the CEO of Tesla Motors Inc. (NASDAQ:TSLA) claimed that the new Model 3 will not look like any other car.

While General Motors Company (NYSE:GM) has stated that its Chevrolet Bolt will be offered at $30,000, Model 3 by Tesla Motors Inc. (NASDAQ:TSLA) is also predicted to come out in the range of $30,000-$40,000.

General Motors Company (NYSE:GM) has redesigned the Chevrolet Bolt such that it is expected to have a new battery range. But even with that, it cannot be predicted whether Chevrolet Bolt will have the same features as Model 3 from Tesla Motors Inc. (NASDAQ:TSLA). This is mainly because Tesla Motors Inc. (NASDAQ:TSLA) has made almost no information about the car’s specifications and appearance public.

An advantage for Tesla Motors Inc. (NASDAQ:TSLA) is that will no information available in the market regarding its Bolt, its competitors like the General Motors Company (NYSE:GM) and Ford Motor Company (NYSE:F) do not have any information against which they can compare and improve their own vehicles. They can only wish that the new Model 3 will not have any extraordinary features.