
The Chevrolet Volt is GM promising gem in saving the company. GM currently needs some serious bridge loans from the Government to stay afloat. To prove the point, CEO Rick Wagonner, ditched the private jet plane ride, drove the 2009 Chevy Malibu Hybrid to DC. In the morning, he drove in a 2011 Chevy Volt Test car for the meeting with Congress and Senate. To get off the bad press on executive wasting money out of the way, GM wants to correct the wasting money on private jet situation and promote the future Electric + Hybrid car for the future instead.


Now, about the Volt. GM calls it an Extended-Range Electric Vehicle (E-REV), it has a top speed of 100 mph and 40 miles on all-electric based on the EPA city cycle. The Chevrolet Volt can be plugged either into a standard household 120v outlet or use 240v for charging. The charging technology enables the Volt's battery to be charged in about eight hours on a 120v outlet. When fully charged, the Volt will deliver up to 40 miles of electric driving. The Volt's electric drive unit delivers the equivalent of 150 horsepower, 273 lb-ft. (370 Nm) of instant torque, and a top speed of 100 miles per hour. The lack of engine noise, combined with special sound-deadening materials, make the Chevrolet Volt an extremely quiet vehicle to drive.

GM estimates that the Volt will cost about two cents per mile to drive while under battery power compared to 12 cents per mile using gasoline priced at $3.60 per gallon or 6 cents per mile at $1.80/ gallon (best case scenario).
Also checkout the people's opinion at Edmunds Santa Monica.
Source: Edmunds, Jalopnik
The Volt is nice but at $40k, we can get 2 priuses
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