GM to sell Volt electric car for $40,000

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General Motors Co., the largest U.S. automaker, plans to sell its Chevrolet Volt for about $40,000, said a person familiar with the company's plans.

Pricing and ordering details for the electric car are to be announced Tuesday at noon by Joel Ewanick, vice president of U.S. marketing, at a news conference in San Jose, Calif., GM said yesterday on its Web site.

Initially, the Volt will be sold this year in parts of Texas, New York, and California and in the District of Columbia. Next year, GM is to build 10,000 of the cars, which run on all-electric drive for 40 miles before a gasoline engine recharges the battery.

The company has said the Volt will get about 230 miles per gallon. The official rating may be different, Tom Stephens, GM's vice chairman of global product operations, said this month.

Nissan Motor Co. plans to begin selling its Leaf all-electric car late this year. Chief Executive Officer Carlos Ghosn has said he plans to sell 500,000 electric cars annually worldwide by 2012.

Nissan has said the car will have a base price of $32,780 and will cost $25,280 after U.S. subsidies.

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