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A Tesla Model 3 With Full Autonomy Makes Chevy Bolt Look Like a Loser

Elon Musk at Tesla Motors Inc (TSLA) Model 3 Unveil

Tesla Motors Inc has delivered a huge blow to Chevy Bolt by announcing that its new cars will be fitted with driverless hardware. The announcement will give the Model 3 a much needed edge over the Chevy Bolt, notes a report from Business Insider.

Full self-driving – a differentiating factor

Tesla Motors Inc Model 3 will have a tough face off with the consumer friendly Chevy Bolt that is scheduled to be rolled over in the showrooms by the end of this year. Chevy Bolt can run 238 miles, and comes with a comforting price tag of $37,500 excluding federal tax exemptions, and a perfectly acceptable top speed of 91 mph. Bolt is packed with semi-autonomous features such as lane-keep assist and front pedestrian braking. However, waiting for Model 3 is a must if one wants to go for an electric car with the latest self-driving features.

Tesla Motors Inc (TSLA) Model 3 Silver
Source: Tesla Motors

Last week, CEO Elon Musk said the vehicles in production now – including the Model 3 – will come with hardware supporting full self-driving capabilities, while the needed software will come after regulatory approval. The EV firm is set to drop its car on the road and drive it from Los Angeles to New York by the end of 2017 to showcase their technology.

Meanwhile, new hardware update has upgraded the Autopilot capabilities of new Tesla models. The new hardware is capable of handling the Traffic conditions in a better way, can automatically change lanes by itself, merge on and off highways and park itself.

Tesla Model 3 vs. Chevy Bolt

 With Enhanced Autopilot capabilities, entry price of the Model 3 will surge by at least $5000 while fully Self-Driving capability will be $8,000. There is no way to know how many Model 3s will be eligible for federal tax exemptions although many certainly will. So, it would be fair to assume that the car will range between $40,000 and $43,000, notes BI.

Compared to the Chevy Bolt, the customer will have to pay around $2500 more upfront for the Model 3, which will be much smarter than its competitor, notes BI.

Entry-level features of the Model 3 are quite similar to that of Chevy Bolt, while its range of 214-mile is a tad below Chevy’s Bolt. However, while talking about the car back in March, Musk said that Tesla Motors Inc is looking to increase its range from the initial 215-mile range, hinting that the car would come with several battery options. There is still no confirmation on the top speed, but Musk said the car will accelerate to 60 mph in less than 6 seconds, which is same as Bolt’s 0-60 mph acceleration.

“If I’m looking to buy, I’d go with the tech-savvy Model 3 that could turn driverless before going all in on the Chevy Bolt, which is really the first of many future long-range electric cars to come,” says BI.

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Aman is MBA (Finance) with an experience on both marketing and Finance side. He has work as a Risk Analyst for AIR Worldwide, and is currently leading VeRa FinServ, a Financial Research firm. Favorite pastimes include watching science fiction movies, playing PC games and cricket.