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GM reportedly working on a lower-cost Chevy Volt

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When it comes to electric vehicles, the Chevrolet Volt is as mainstream a brand as it gets. But despite GM's efforts to make the Volt a top choice among EV buyers, demand for it hasn't been what the company expected since it began production in 2010. To turn this situation around, General Motors is said to be planning the release of a more affordable model of its Chevrolet Volt. According to a recent report from Reuters, the automaker has only sold 58,158 Volts to date, which is a staggering number when you consider that the Nissan Leaf has more than 80,000 total sales and counting.

With the 2016 Chevrolet Volt, the automaker will reportedly take a cue from Tesla and offer different models, one being an entry-level version priced "from just over $30,000," compared to the car's current price of $35,000. This rumored price could also help GM undercut its competition, with vehicles like Ford's C-Max Energi and Honda's Accord plug-in hybrid both carrying a much heavier price tag. As a result, however, Reuters states the lower-priced Volt would have a range of under 300 miles and offer "less equipment," so some sacrifices would be necessary. Still, this could be a good thing for you, since you'd have more options to choose from and, better yet, at a more reduced cost. Or, if money's no problem, you could always just buy a Model S and call it a day.

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