GM Chevrolet Volt price reduced by $5,000: Plans new investment and jobs at Tennessee plant

General Motors has reduced $5,000 on 2014 Chevrolet Volt electric car price. Priced at $40,000 earlier, the latest model variant of Volt is available at $34,995 now. Apart from this, GM will be investing of $167 million in its Sprint Hill, Tennessee assembly plant.

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Price of Chevrolet Volt can be further reduced to $27,495 when government tax rebates for electric cars are considered. This discount is being offered to see enhanced sales and to compete with other electric cars from other automakers. “The lower price and cost savings from driving on electricity provide Volt owners an unmatched balance of technology, capability and cost of ownership,” said Don Johnson, U.S. vice president, Chevrolet sales and service.

“We have made great strides in reducing costs as we gain experience with electric vehicles and their components,” Johnson said. “In fact, the Volt has seen an increase in battery range and the addition of creature comforts, such as a leather-wrapped steering wheel and MyLink, since its launch in 2010.”

Speaking about new investments and jobs, General Motors has announced fresh investments of $167 million, which comes after the earlier announced investment of $183 million. This money will be utilized to produce two more cars form the Tennessee plant, from where they currently produce Chevrolet Equinox SUV. This will also see GM increasing their workforce by about 1,800 to 2,000 at the plant.