General Motors has just announced that the all-new 2016 Chevrolet Volt plug-in electric vehicle will start at $33,995 before any federal tax credits or rebates. The price, which includes an $825 destination fee and excludes tax, title, license, or dealer fees, is roughly $1,200 less than the first-generation Volt.

For some buyers, the 2016 Volt will cost as low as $26,495 after the full federal tax credit of $7,500. The credit can range from $0 to $7,500, with the latter figure being the maximum. Residents of California, the Volt’s largest market, will be able to purchase the all-new Volt for as low as $24,995 after state and federal incentives.

Besides the obvious new exterior, cabin, and in-vehicle technology, the all-new, second-generation Volt delivers 50 miles of pure electric driving range, which is 31 percent more than the all-electric driving range of the outgoing model. Based on GM testing, Volt owners who charge regularly can expect to drive an estimated 1,000 miles or more between fill-ups, which means new Volt owners should anticipate that approximately 90 percent of the trips in a new Volt will be driven all-electrically. In addition, the 2016 Volt delivers a GM-estimated 102 MPGe (electric) as well as an impressive fuel economy of 41 combined mpg when running on the gasoline-powered range extender.

“The next-generation Chevrolet Volt delivers more technology, the ability to drive further between gas fill-ups and now with even more value to our customers. It’s what our loyal Volt owners told us they wanted,” said Steve Majoros, director, Chevrolet Marketing. “We are confident we will continue to attract new customers to Volt with the vehicle’s product improvements and attractive price.”