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GM and the Chevy Volt turned up three “7s” on the Congressional slot machine. First, automakers got the $25 billion in low interest government loans. Second, the Wall Street bailout will likely help the beleaguered auto industry. Third, plug-in tax credits have now been signed into law.

Read the story there: http://gm-volt.com/2008/10/03/along-with-wall-street-bailout-plug-in-car-tax-credit-is-passed-chevy-volt-now-7500-less/

Hmm. Now all they have to do is find a way to make the Volt less expensive, run on natural gas (about $2.00~$.50/gallon) or gasoline, and find a good battery manufacturer and get better mpg than the Insight II and Prius III.

I believe the tax credit will be available for all electric & hybrid vehicles with a 4kw battery or larger. I heard the credit for the Volt may be as high as $7k as it has a much larger battery. I'm sure someone will chime in with an accurate summary.

Hi All,

The Volt has a 16 KWH battery. Its the same capacity as the EV1, but about 1/2 the volume.