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 26,014.09 -3.72 -0.01%
Nasdaq 7,315.94 19.89 0.27%
S&P 500 2,804.64 6.61 0.24%
Treasuries 2.63 0.02 0.77%
Data as of 10:41am ET
Company Price Change % Change
General Electric Co 16.10 -0.67 -4.01%
Advanced Micro Devic... 12.70 0.22 1.80%
Bank of America Corp... 31.60 0.12 0.38%
Ford Motor Co 11.98 -0.09 -0.75%
Micron Technology In... 42.99 -1.00 -2.27%
Data as of 10:26am ET
Sponsors

Sections

More than 5% of DACA recipients have started their own businesses since enrolling the program, according to a recent survey. More

Three of Amazon's 20 finalists for its second headquarters are in the Washington, D.C. region, which may have more to do with pitting each of the government against one another than anything else. More

Though many popular budgeting programs are set up to help you allocate your money by the month, you'll gain greater control by budgeting weekly. More