Tuesday, July 27, 2010

How Much Would You Pay for an Electric Car?

Posted By on Tue, Jul 27, 2010 at 11:33 AM

As of Tuesday, more than 50,000 people in all 50 states have joined a waiting list to buy a Volt. What's that? You don't know what a Volt is? It's General Motors new plug-in car, which will be sold in six states (sorry, Idaho isn't one of them) come November. It's expected to be sold in dealerships across the country in 2011.

Today (Tuesday) GM announced the price tag of a Volt: $41,000, before a $7,500 federal tax credit. G.M. says it will also lease the Volt for $350 a month.

While it's primarily powered electrically, the Volt has a small gasoline engine, that will give the car a total range of about 340 miles and allow drivers to fill up at a gas station if they can't immediately charge the battery.

The Volt uses a standard 120-volt cord to charge its 400-pound battery. Each charge is expected to cost owners from $1 to $1.50, depending on electricity costs.

The federal government is partnering with General Motors in marketing electric vehicles, offering a $7,500 credit when filing tax returns.

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