According to a report by Bloomberg citing "people familiar with the matter," General Motors will double the 2012 production of the Chevrolet Volt to 120,000 as the company works to increase sales of the revolutionary plug-in hybrid.
The output for 2011 may well climb to 25,000 which is well in excess of the original 10,000 planned. In September, Dan Akerson became the GM CEO and has said he wants more fuel-efficient models ready should oil prices hit $120 a barrel.
Speaking to analysts at Deutsche Bank's Auto Industry Conference in Detroit on January 11, Akerson said, "We want to stay sharply focused on technology. We don't want to be caught flat-footed as we were in 2008."
In 2008, crude oil reached $140 a barrel, with the average price for gasoline topping $4. In response, the sale of trucks and cars with large engines fell through the floor, largely accounting for the $30.9 billion loss GM endured for the year.
In addition to increasing Volt production, Akerson has also said he wants to explore adding the car's drive system to additional models with a goal of potential tripling sales of vehicles with that level of technology by the middle of the decade.
According to the U.S. Environmental Protection Agency, the amount of energy used by the Volt is the equivalent of 93 mpg when in all-electric mode. In the combined gasoline-electric mode, the Volt averages around 60 miles and hour, and, in gasoline only operation, it still returns a commendable 37 mpg.