The Chevy Bolt will have a 238-mile range

Say goodbye to range anxiety.

Chevy has finally announced the range of its upcoming Bolt all-electric vehicle. At 238 miles, the relatively inexpensive EV should squelch some of the range anxiety that's kept drivers from making the switch from gas-powered vehicles.

Announced at CES in January, the Bolt is squarely aimed at Tesla's upcoming Model 3 in range and price. While the Model 3 isn't expected to land until late 2017, the Bolt is expected to be in showrooms before the end of 2016. In Europe, it'll be known as the Ampera-e, but won't be unveiled until the Paris Motor Show in November.

Chevy and Tesla won't be the only two automakers battling for EV-buying dollars. Volkswagen is expected to unveil a long-range electric car at the Paris Auto Show in November and Ford CEO Mark Fields has already indicated that the company will be producing its own affordable EV. And of course, the Nissan Leaf is expected to get a range increase.

The Chevy Bolt will set you back less than $37,500 before federal and state tax credits and will go on sale in the US later this year. European drivers will have to wait until 2017.