'

GM plans cheaper electric car to rival Tesla

Can GM capitalize on a cheaper, long-range EV?

General Motors says it's working on creating a cheaper, long-range electric car to add to its lineup of EVs.

According to the Associated Press, Doug Parks, a top GM executive, said the company wants to build an electric car that can travel over 200 miles per charge and cost around $30,000.

The car's battery range would approach the range of the Tesla Model S which can travel over 250 miles on a single charge but costs over $70,000. The unnamed car's most direct competitor will likely also come from Tesla which is also expected to release a Model E in the $30,000 range.

While GM didn't release a timeframe for the planned car, it did announce this week that it has tripled the size its battery research and development lab at its headquarters in Michigan.

Read more: Associated Press

Photo: Flickr/Argonne National Laboratory

This post was originally published on Smartplanet.com