Chevrolet is targeting Tesla Motors with the upcoming Bolt, and with tests of the electric car returning promising results, the Bolt could very well challenge Tesla's Model S in the electric car industry.

The Chevrolet Bolt will be released to the market sometime next year, with the company confirming the starting price of the vehicle to be around $30,000, which is less than half the starting price of the Tesla Model S.

The low price of the Chevrolet Bolt is not the only positive thing about the car, though, as the company said that testing of the vehicle has confirmed that it is capable of traveling over 200 miles before needing a recharge on the car's batteries.

The reported results are very significant for the Chevrolet Bolt, as the Tesla Model S gets somewhere between 208 miles and 270 miles on a single charge.

The Chevrolet Bolt should not be mixed up with the Chevrolet Volt, as the Chevrolet Bolt is a purely electric vehicle while the Chevrolet Volt features a gas-powered generator that can charge the car's battery pack while in motion.

Chevrolet currently has several Bolt cars around the United States being tested to make sure of the electric vehicle's performance before going into mass production for the car.

The two factors that have held most customers back from purchasing electric vehicles are the price of the cars and the range that they can reach on a single charge. Range anxiety, the term given to the fear of drivers that their electric cars will run out of power before getting to their destination, is still a foremost problem among potential customers in the market.

These two factors will be addressed by Chevrolet with the $30,000 starting price and over 200-mile range of the Bolt. If the electric car would run out of energy, the company said that by using a super charger station, the car's battery can be back up to 80 percent at a time of less than 45 minutes. This is still much longer than getting a fill up at a gasoline station, but it is a reasonable time for users that would like to embrace electric car technology.

The Bolt will be available in all 50 states and in selected international markets.