GM will be selling the Chevrolet Volt later this year for a price tag in the low $30,000″s, and turn a profit on each car, according to chairman and CEO Ed Whitacre, Jr. The large lithium-ion battery packs contribute greatly to the car being a rather expensive one to produce, and had had made the starting price a point of concern.

In 2007 vice-chairman Bob Lutz had thrown out a goal of under $30,000, and that number was later adjusted to reflect a concern of higher production costs. Since that time however, Congress has passed legislation that will give initial Volt buyers a $7500 tax credit, and media speculation has thrown out figures as high as $40k.

Whitacre settled these concerns in an interview with gm-volt.com as well as the rumor that the first generation will be sold at a loss. “We”re not in business to lose money,”¦We did enough of that already.” said Whitacre. The Volt “is going to sell in the low 30s,” he added. “We”ll get a margin on that.”

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2011 Chevrolet Volt:

- By: Stephen Calogera

Source: gm-volt.com