Kelley Blue Book Senior Analyst Karl Brauer thinks that the Chevrolet Bold concept car unveiled at the North American International Auto Show today is a clear signal that General Motors Company GM wants to get into the pure electric car market.
“The similarity between the Bolt and the Tesla Motors TSLA can’t be a coincidence, suggesting Chevrolet is ready to take on [Elon] Musk and Silicon Valley’s vision of personal transportation,” Brauer said.
He added that if the final production version of the Bolt delivers on the concept’s promise, it should finally put electric vehicles on the map when it comes to volume sales.
Shares of GM traded about 0.7 percent higher on Monday, but Tesla finished the day down more than 2 percent.
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