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.
Investors seem to be expecting more populist political victories these days. The market shrugged off the 'No' vote in Italy that brought down Prime Minister Matteo Renzi and stocks continue to enjoy their post-Trump glow. More
Facebook admits it messed up more ad metrics than previously thought, potentially eroding its trust and relationship with marketers and publishers. More
In 1998, Ntsiki Biyela won a scholarship to study wine making. Now she's about to launch her own brand. More
Credit card issuers are competing intensely for your business, and they're willing to pay for it. More