(Source: Washington Post, Jalopnik, Autoblog)

Car can extend its range to more than 300 miles with its flex fuel-powered engine-generator.

Image Courtesy: Autoblog

In case you missed it this morning, General Motors CEO Fritz Henderson made some big news just one month after the “new” GM emerged from bankruptcy protection.

General Motors announced today that its forthcoming electric vehicle, the Chevrolet Volt, will achieve city fuel economy of 230 miles per gallon, under testing that used draft federal fuel economy methodology standards for plug-in cars.

The Volt will become the first mass-produced vehicle to obtain a triple-digit MPG rating, the company said.

“The Volt is becoming very real, very fast,” chief executive Fritz Henderson said. “The price of oil is going to go up.”

According to Frank Weber, vehicle chief engineer for the Volt, the number is based on combined electric only driving and charge sustaining mode with the engine running. He declined to get specific about the proportions, but did say that the urban cycle would be predominantly EV only. The EPA has been studying real world vehicle usage and is developing the formulas to try and provide a representative number of what most customers could expect to achieve. In addition to the composite number, the new EPA stickers will likely also get numbers for mileage in charge sustaining mode and electric efficiency in EV mode.

Initial prices for the car may be as much as $40,000, analysts said.

But company officials said the car’s price is expected to come down over time. They note, moreover, that gas prices will rise again, making fuel-efficient cars more valuable.

The Volt, which is scheduled to start production late next year, is expected to travel up to 40 miles on electricity from a single battery charge. The company says the car can extend its range to more han 300 miles with its flex fuel-powered engine-generator.

Assuming the average cost of electricity is approximately 11 cents per kilowatt-hour in the United States, a typical Volt driver would pay about $2.75 for electricity to travel 100 miles, or less than 3 cents per mile.

This story’s still developing, but if our sources are correct, it would blow the Toyota Prius out of the water. Heck, it’d blow every other vehicle currently on the market out of the water with the exception of the Tesla roadster — and that’s no four-door mid-size sedan. So for GM this represents a huge marketing coup — the ability to claim the most fuel efficient vehicle in the world and a big blow to detractors who claim the big, sweaty ‘merican manufacturer can’t build quality products.

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