General Motors Corp (GM)

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Will GM take on Tesla Motors with 200-mile, $30000 electric car?

So far, the Tesla Model S is alone among plug-in electric cars in providing 200 miles or more of electric range.

But as Tesla Motors [NSDQ:TSLA] prepares to roll out its more affordable Model E late in 2016, it may face serious competition from General Motors.

GM is developing a Tesla-rivaling car that can go 200 miles on a charge and would cost $30,000, The Wall Street Journal reports.

But while the General has the technology to build this new electric car, it won't go on sale particularly soon--due to high battery costs, said Douglas Parks, GM's vice president of global product programs.