General Motors Company (NYSE:GM) is planning on launching a cheaper version of the Volt hybrid vehicle with a smaller battery pack and shorter driving range. A smaller version of the next generation Volt, according to Automobilwoche.
The second generation Volt is expected to go into production in around 16 months at the Detroit-Hamtramck plant.
“Volt customers are the happiest customers in the world. We found a formula that works for them, and we’re not going to deviate from that formula,” stated Chevrolet spokesman Mike Albano.
Chevrolet has sold around 58,158 Volts since the car started to sell 39 months ago. Ford’s F-series pickup truck sold over 70,000 vehicles last month.
General Motors is going to spend $384 million to upgrade its tooling and equipment at Detroit-Hamtramck, which will be building the next-gen Volt “and two future products.”