General Motors Co. plans to offer a new electric vehicle with a style and price-point that can compete with the forthcoming Tesla Model 3 car due out in two years, the Wall Street Journal reported.

The $30,000 electric car called the Chevrolet Bolt, expected to debut commercially in 2017, will be able to drive 200 miles on a charge and is intended to cut into a market where Elon Musk's Tesla Motors Inc. has been an investor darling.

Electric car purchases badly lag sales of gas-powered vehicles but the market is growing and GM will show off an early model of the Bolt at the Detroit auto show to stake a stronger claim in the space, the newspaper reported.

The Chevy Bolt will boast a stronger battery manufactured by South Korea's LG Chem Ltd., the paper reported.