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

Frontline troops push for solar energy
The U.S. Marines are testing renewable energy technologies like solar to reduce costs and casualties associated with fossil fuels. Play
25 Best Places to find rich singles
Looking for Mr. or Ms. Moneybags? Hunt down the perfect mate in these wealthy cities, which are brimming with unattached professionals. More
Fun festivals: Twins to mustard to pirates!
You'll see double in Twinsburg, Ohio, and Ketchup lovers should beware in Middleton, WI. Here's some of the best and strangest town festivals. Play
Find Your Next Car
Index Last Change % Change
Dow 17,678.70 6.10 0.03%
Nasdaq 4,771.76 13.88 0.29%
S&P 500 2,057.09 5.27 0.26%
Treasuries 1.83 0.01 0.61%
Data as of 2:18am ET
Company Price Change % Change
Bank of America Corp... 15.85 0.12 0.76%
Apple Inc 113.10 0.12 0.11%
Microsoft Corp 47.01 -0.17 -0.36%
Safeway Inc 35.10 -0.19 -0.54%
General Electric Co 24.59 0.11 0.45%
Data as of Jan 26

Sections

The league announced on Monday that fans will be able to watch official NFL highlights on YouTube. More

Solid economic growth over the next few years should help keep the federal deficit at a very modest level until 2018. But after that, the nation's deficit will start growing again, the Congressional Budget Office said in its latest 10-year outlook. More

On demand delivery startup WunWun is expecting its order volume to double by the time they close up shop on Monday. All thanks to a blizzard. More

Identity thieves are stealing people's Social Security numbers and other key pieces of personal information in order to file a fraudulent tax return and claim a refund, the IRS warned Monday. More

Most stock quote data provided by BATS. Market indices are shown in real time, except for the DJIA, which is delayed by two minutes. All times are ET. Disclaimer.

Morningstar: © 2015 Morningstar, Inc. All Rights Reserved.

Factset: FactSet Research Systems Inc. 2015. All rights reserved.

Chicago Mercantile Association: Certain market data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved.

Dow Jones: The Dow Jones branded indices are proprietary to and are calculated, distributed and marketed by DJI Opco, a subsidiary of S&P Dow Jones Indices LLC and have been licensed for use to S&P Opco, LLC and CNN. Standard & Poor's and S&P are registered trademarks of Standard & Poor’s Financial Services LLC and Dow Jones is a registered trademark of Dow Jones Trademark Holdings LLC. All content of the Dow Jones branded indices © S&P Dow Jones Indices LLC 2015 and/or its affiliates.