Chevy finally got on board with the whole hybrid/electric car thing and built the Chevy Volt (Chevy actually has an all electric golf cart that is road legal on streets 30MPH or slower). Today, Bob Lutz, Chevy’s CEO, revealed the actual price of the new Volt. He originally said it would be $30k, but it turns out he was WRONG. The Volt will cost $40,000. No biggy if Congress passes the hybrid tax credit of $7,000 (as reported by Autoblog). Lutz said that they’re losing money on the gen 1 of the Volt so hence the price increase.
The Chevy Volt is a hybrid vehicle that runs on both gas and lithium-ion batteries. The lithium-ion batteries should provide a 40 mile range, which is ideal for those commuting locally. Those who wish to take the Volt on a road trip can rely on the gas engine that will run on regular petroleum or Ethanol 85. When the gas engine kicks in it will subsequently charge the lithium batteries and give the Volt a 600 mile range. The Chevy Volt is designed to use a common 110-volt household plug (phew).
The Chevy Volt isn’t expected to hit the consumer market until 2010.
Official Chevy Volt page here