GM to sell Volt for $41K, lease for $350 a month

By: AP
By: AP

DETROIT -- General Motors Co. says its Chevrolet Volt electric car will cost $41,000 when it goes on sale in November. The price is about $8,000 more than its closest rival, the all-electric Nissan Leaf.

GM will also offer a $350-per-month lease deal that's about equal to the Leaf's.

Both cars are eligible for a federal tax credit that will cut their prices by $7,500.

The Volt runs on battery power but has a small gas engine to generate electricity once the battery runs down. The 4-door sedan can drive up to 40 miles on a fully charged battery. The Leaf can go up to 100 miles on a charge but doesn't have a gas engine. It goes on sale in December.

GM says the Volt is a better value because it eliminates worries about running out of power.

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