Our Terms of Service and Privacy Policy have changed.

By continuing to use this site, you are agreeing to the new Privacy Policy and Terms of Service.

GM to boost Chevy Volt production

chevy_volt.top.jpgAutomaker plans 50% increase in second-year production of its electric car. Peter Valdes-Dapena, senior writer


NEW YORK (CNNMoney.com) -- General Motors announced Friday that the automaker has raised its planned production of the Chevrolet Volt electric car to 45,000 in 2012.

Originally the automaker planned to produce 30,000 Volts in its second year of production.

The announcement coincided with a visit by President Barack Obama to the Detroit auto plant where early production of the car has already begun.

GM plans to begin selling the Volt by the end of this year. GM says it will limit sales to 10,000 units during 2011, the car's first full year of production.

The car will initially be available only in California, New York, Michigan, Connecticut, Texas, New Jersey and the Washington, D.C. area.

When fully charged, the Volt will be capable of traveling up to 40 miles on purely electric power using a lithium-ion battery pack. For driving beyond 40 miles, the Volt will have a four-cylinder gasoline engine that will generate electricity to power the wheels.

GM recently announced a planned base sticker price of $41,000 for the Volt. The car will also be available at a lease rate of $350 a month, however, which is the same rate that Nissan plans to charge for its Leaf electric car. The Leaf can travel up to 100 miles on a charge, but lacks the Volt's gasoline engine for extended driving.

GM says strong public interest in the vehicle lead it to increase production targets for the Volt. To top of page

Find Your Next Car
Index Last Change % Change
Dow 19,827.25 94.85 0.48%
Nasdaq 5,555.33 15.25 0.28%
S&P 500 2,271.31 7.62 0.34%
Treasuries 2.47 0.01 0.33%
Data as of 9:40pm ET
Company Price Change % Change
Bank of America Corp... 22.64 0.11 0.49%
General Electric Co 30.53 -0.68 -2.18%
Bristol-Myers Squibb... 49.23 -6.26 -11.28%
CSX Corp 44.33 -1.18 -2.59%
Chesapeake Energy Co... 6.69 0.07 1.06%
Data as of 4:01pm ET
Sponsors

Sections

Shares of several uranium miners are soaring this year on hopes that Donald Trump will commit more investments to nuclear power. But investors need to get careful. The stocks are as volatile as radioactive elements. More

President Trump promised to 'buy American and hire American.' He says his policies will create 25 million new jobs, the most of any U.S. president in history. CNNMoney lays out just how hard that will be. More

Apple is suing Qualcomm for allegedly charging 'excessive royalties' and withholding payments in retaliation for Apple cooperating with a regulatory investigation into the chip supplier. More

If you're smart about when you first claim Social Security, you can increase your benefits and reap the rewards for the rest of your life. More