A boy poses for a photo next to a Volvo C30 Electric car at Auto China 2012 in Beijing, April 23, 2012. Volvo’s first all-electric car will be priced below $40,000 and will be launched in 2019. Reuters

Volvo, which already produces a number of hybrid vehicles, is finally entering the fully electric car market. Though the release of the yet-to-be-named car is slated for 2019, the Volvo EV looks like it could be a winner, given its specifications and competitive pricing.

Volvo’s first ever all-electric car will be priced between $35,000 and $40,000, and will be able to go at least 250 miles on full charge, Automotive News reported Monday. But how does it stack up against other popular vehicles already in the market, like the Chevrolet Bolt, or those coming soon, like the Tesla Model 3?

Tesla Model 3; priced at $35,000

The much-awaited Tesla Model 3 is expected to launch by 2017-end or early 2018. Tesla has promised a “minimum” range of 215 miles per charge and its charging times are likely to be similar to those of the Model S or Model X — between 3-6 hours for a full charge. Model 3 is the first "cheap" car to be launched by Tesla.

Chevrolet Bolt EV; priced at $37,495

The stiffest competition that Volvo has is from U.S. car maker Chevrolet, with its upcoming Bolt EV. Priced under $40,000, the Bolt EV is the only non-Tesla car on sale at a range of 200 miles and priced below $60,000. Bolt EV sales began last month in California's Silicon Valley, but Chevy will slowly roll out the car nationwide between now and September.

BMW i3; priced at $43,395

In the first major update since its launch, the BMW i3 will get a 33-kilowatt battery, which will help the car run 114 miles on full charge, up from the previous 81-mile range. The new updated battery will take 4.5 hours to fully charge, an hour more than the older version.

Ford Focus Electric; priced at $29,995

As the Ford Focus Electric gets some major updates, the EV is expected to boost its range from 76 miles to 115 miles. The Focus has also developed fast charging. However, the company has fallen behind the competition when it comes to 200+ miles EVs to compete with the likes of Tesla or the Chevy Bolt EV.

Fiat 500e; priced at $32,780

The Fiat 500e comes with a driving range of 84 miles. A full charge via the car's 6.6-kW charger takes about four hours.

Given that most states have different incentive offers for electric vehicles, and there are federal incentives as well, buyers can purchase electric cars at cheaper rates, making them more affordable than their list prices suggest.