There's a sticker price for the much-anticipated Chevrolet Volt: $41,000.
The price, $5,000 above the price of a new Cadillac, is higher than General Motors' previous estimates. GM began developing the Volt four years ago as its answer to the hybrid movement. The car runs off of a lithium-ion battery pack guaranteed to last eight years or 100,000 miles.
"Every day we've been asked a single question: How much will it cost?" said GM marketing chief Joel Ewanick on a conference call to announce the pricing.
The rechargeable Volt, due in showrooms in November, can travel 40 miles on battery power before a small gasoline engine takes over to generate power so the car can go longer distances. The 400-pound battery is the most expensive component of the Volt, costing around $10,000.