GM rumored to be releasing a cheaper Chevy Volt sometime soon

The Chevrolet Volt could prove to be a “mainstream” electric vehicle, so to speak, but demand has not been as strong as what its executives anticipated ever since the Volt entered production at the beginning of this decade. General Motors has been touted to be working on a more affordable bank account friendly version of its Chevrolet Volt, which is not necessarily a bad thing.

Hoping to boost demand for its slow-selling Volt hybrid, Chevrolet is planning to sell two versions of the redesigned 2016 Volt, including a lower-priced model with a smaller battery pack and shorter driving range, supplier sources told Reuters on Tuesday. The second-generation Volt is slated to go into production in about 16 months at General Motors Co’s Detroit Hamtramck plant, the sources said. Chevrolet spokesman Mike Albano declined to comment on the brand’s future plans but said: “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.” Chevrolet has sold just 58,158 Volts since the car went on sale 39 months ago, despite price cuts and heavy discounting. In comparison, the best-selling Ford F-series pickup last month sold more than 70,000.