As the top US car maker and manufacturer, GM will be hoping for a successful launch of its all-electric car. The car will help them to compete against other major car manufacturers who have already been developing hybrid cars for years. The current lines of vehicles rolling out of production are petrol-hungry trucks and family cars, which are seen by Green groups and international governments to be contributing massively to Global Warming.Wagoner says that the Volt will probably be primarily manufactured in GM’s Hamtramck, Michigan plant, depending on how negotiations with local governments pan out.

The Volt’s biggest competitor is the Toyota Prius – a high-selling petrol-electric Hybrid car. It combines battery power with a regular combustion engine. The Volt, however, is entirely powered by an electric motor – the battery can actually be charged using an ordinary household power socket. Its onboard engine will only be used to power the battery on longer trips.

The plug-in Volt will run for 40 miles powered by a lithium-ion battery pack. This battery can be recharged by simply plugging it into the wall, and is widely used in its smaller form in regular consumer electronics. Toyota is also planning to use the same technology to produce the entirely-electric car, also to be released by the end of 2010.

The approval by the board comes at a crucial time for General Motors. They have been criticised and pressured by both Green groups and the US government to improve fuel economy and decrease emissions levels. The continuously rising fuel prices are also seen to be the company’s biggest ongoing threat and do are not likely to drop in the near – or even distant – future.

Wagoner says: “We intend to show the production version of the Chevy Volt in the near-future.”