Chevy’s 238-mile promise a game changer for electric cars – CNBC

Posted: Tuesday, September 13, 2016

The GM Chevy Volt, an extended-range electric car that also uses gasoline, is a good example.

Shortly after coming out of bankruptcy, GM said it expected to sell 40,000 Volts a year. That never happened.

In fact, the Volt’s best years for sales were 2012 and 2013, when sales topped out at roughly 23,000 vehicles.

GM believes the all-electric Bolt is different because it will offer more than 200 miles range fully charged and will have an estimated starting price of $37,000 before the $7,500 federal tax rebate is applied.

“If you look at the reason why people didn’t buy electrified or pure electric vehicles, it was really around either cost or price range, or in some cases utility. We think with the Bolt we have all of those covered and more,” Mark Reuss, General Motors executive vice president of global product development, told CNBC’s “Squawk Box” on Tuesday.

The automaker will announce the official price of the Bolt later this year shortly before the car goes on sale.

— CNBC’s Tom DiChristopher contributed to this story.

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