A top General Motors Co. executive says company engineers are working on an electric car that can go 200 miles (320 kilometres) per charge and cost around $30,000 U.S.
Vice-President of Global Product Development Doug Parks wouldn't say when or if such a car will be built. But he says automakers are racing to develop batteries that will go that far at a lower cost.
Currently GM sells the $35,000 Chevrolet Volt plug-in hybrid, which can go 38 miles (about 60 kilometres) on electricity before a gas-powered generator kicks in. It also offers the all-electric Chevy Spark subcompact that can go 82 miles (about 130 kms) on a charge. It starts at $26,685 U.S.
Parks says GM has technology to match the 200-mile range of the $71,000 U.S. Tesla Model S, but is shooting for lower prices.
General Motors closed Monday trading on Wall Street at $36.22 U.S., up 16 cents from Friday's close, in a 52-week range of $22.67 to $37.71 U.S.
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Original headline: GM working on lower-priced electric car
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OCTOBER 31, 2014
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