Korean motorists will have a chance to peek at the Chevrolet Bolt electric vehicle (EV) before its official launch slated in the United States later this year as GM Korea Co., the local unit of U.S. automaker General Motors Co. (GM), plans to unveil the new model of the battery-powered electric vehicle in Korea next week.

GM Korea said Thursday it will showcase the Chevrolet Bolt EV at the 2016 Korea Electronics Show (KES) along with its other state-of-the-art green vehicle technology and car parts. The 2016 KES, hosted by the Ministry of Trade, Industry and Energy (MOTIE), will be held between October 26th and 29th in COEX mall in southern Seoul, involving 500 companies including 100 from overseas.

The 2017 Chevrolet Bolt EV, slated for official launch by the end of 2016, is in a fierce battle with Tesla Motor Inc.’s Model 3 to win the heart of motorists in the mass market. Both vehicles with over 200-mile driving range will be offered at relatively affordable prices than other EV models.

The new Chevy Bolt with many of its parts including a motor supplied by South Korea’s LG Electronics Inc. can run 238 miles on a single charge. Its entry model at the lowest price is set at $37,495. With a federal tax benefit of $7,500, the price will likely go down to as low as $29,995, according to the company. Considering that the average price of a new car in the States stands at $34,143, the all-electric subcompact with a driving range of 238 miles seems to have the upper hand against its rivals such as Tesla Model 3 that is expected to hit the market in late 2017 if all goes according to plans.

GM also plans to begin testing a fleet of self-driving Chevy Bolt electric taxis on public roads in joint effort with car-sharing company Lyft Inc. in 2019.

During the four-day electronics show next week, GM Korea will also hold a “GM Mobility Forum,” which will be attended by GM Korea chief executive James Kim, Lowell Paddock, vice president of Planning and Program Management for GM International and Martin Murray, deputy director of electrification engineering at GM China.

By Lee Seung-hoon

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