The new General Motors Company (NYSE:GM) Chevy Bolt that is currently on sale in Oregon and California has proven itself capable of competing with the Tesla Motors Inc (NASDAQ:TSLA) Model S in a range of areas. Some reviewers have even said that the Bolt could be the finest vehicle that General Motors has released in decades.

“It’s shown the world that Detroit is not only embracing the future; right now, it’s the leader,” wrote Engadget in a review of the vehicle.

More affordable than the Tesla Model S

One of the areas that the Chevy Bolt beats the Tesla Model S in is affordability. The Chevy Bolt is priced at $29,995 after federal tax credits or $37,495 before. It is thus significantly cheaper than the Tesla Model S which is considered a luxury vehicle by every standard while the Chevy Bolt is an economy car that has the potential to become a mass-market car.

With regards to the range, the Chevy Bolt can travel 238 miles on one charge. Assuming that the average distance for a daily commute is about 40 miles, owners of the Bolt will be able to go for more than four days on one charge.

Low Mode and Drive Mode

To ensure the efficient use of the battery, the Chevy Bolt possesses Low and Drive Modes. Low Mode sets off the Bolt’s energy regeneration systems which help in saving the battery in light driving situations. Drive Mode, on the other hand, enables the use of the standard features in normal driving conditions.

The Chevy Bolt also regenerates power when the vehicle is slowing down. This is made possible by the presence of a paddle that is situated on the steering wheel which enables the driver to bring the vehicle to a stop without having to use the brakes and thereby allowing for the reconversion of some of the extra energy back into electricity.

The electric vehicle from General Motors runs on a 200-horsepower engine which makes it possible to accelerate from 0 to 60 mph in under 7 seconds.

In Friday’s trading, General Motors Company fell by 1.36% to close the day at $37.01 a share.