Chevrolet Bolt: An electric car that's relatively affordable for many drivers

In recent years, many people would consider an electric car, but the the issue of cost looms large.

For many buyers, a car costing $70,000 or more is simply too much. Now, Chevrolet has released a new car, the Bolt, that many can actually afford.

Like other electric vehicles, Bolt has batteries and an electric motor onboard, and there's hardly any noise.

"What is really impressive is how quiet it is," said Chevrolet representative Fred Ligouri.

The car has an MSRP of $37,495, and there's a $75,000 Federal tax credit.

The Bolt has a range of 238 miles (383 kilometers) when fully charged, which may be sufficient for back-and-forth trips to and from work, as well as running errands, for days. It is not, however, enough to drive from Phoenix to Los Angeles or San Diego. While there are places to recharge the car out on the road, not being able to stop for a quick fill-up can be a real dealbreaker for some people.

"I think there has to be a tradeoff, a compromise," said Ligouri. "The great thing about 238 miles of range, you can do A to B to C to home. Work, pick up the kids, do it day after day without having to think about having to recharge."

With an electric car, drivers would not have to worry about the cost of gas, as it does not use any. That is one reason Chevrolet said it is in the electric car business to stay.

"We know there are folks out there who want to drive electric to reduce footprint, like instant torque or stable fuel costs," said Ligouri. "It is one of the few things about electricity, tends to stay even on price. This is a growing segment and one that people are interested in."

Tesla, known for its electric vehicles, is also making a moderately-priced electric car with a range of over 200 miles. The car, named Model 3, comes with a sticker price in the mid $30,000 range, along with a $7,500 tax credit. It will, however, take some time for the vehicle to become available to many buyers.