GM draws target on Tesla with EV price cut

NEW YORK, June 2 (Reuters) – General Motors (GM.N) is at least beating Tesla (TSLA.O) on one front. The $57 billion Detroit automaker run by Mary Barra lowered the price on its lead electric vehicle on Wednesday, taking it down so much that it can compete with compact gas guzzlers. As Tesla slowly ups the price on its models, GM might be able to use its sub-$30,000 Chevy Bolt to do what no legacy carmaker has managed: steal Tesla’s thunder. The only catch is that Barra doesn’t have forever.

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