General Motors (NYSE:GM) has turned up the heat on Tesla Motors (NASDAQ:TSLA) in the race to produce mass-market electric cars, delivering its first Chevrolet Bolt to customers in its rival’s home state of California on Tuesday.
GM can now claim to have taken the lead in the race to deliver a fully electric car with a range of more than 200 miles, for a starting price lower than $40,000.
GM shares closed up 0.7% at $37.38 on Tuesday. Tesla shares, however, were up 3% at $198.15.