US based vehicle manufacturer General Motors has cut the price of its new Chevrolet Volt car by $5,000, becoming the latest automaker to reduce prices of electric vehicles.
The company said the new price will start at $34,995, including a $810 destination fee.
The 2014 Volt, which is expected to be available later this month, will be provided in two additional colors, Ashen Gray Metallic and Brownstowne Metallic, and as a leather-wrapped steering wheel.
Chevrolet vice president of sales and service in the US Don Johnson the lower price and cost savings from driving on electricity offer Volt owners a new balance of technology, capability and cost of ownership.
"We have made great strides in reducing costs as we gain experience with electric vehicles and their components," Johnson said.
"In fact, the Volt has seen an increase in battery range and the addition of creature comforts, such as a leather-wrapped steering wheel and MyLink, since its launch in 2010."
In January 2013, Japanese carmaker Nissan reduced the price of its Leaf electric vehicle (EV) by $6,400 to $29,650 while in July this year Ford lowered the price of the Focus EV by $4,000 to $35,995.
