From the editors of the Boston Globe:

DASHING HOPES that GM’s new electric car will jolt the American auto industry into a greener era, the new vehicle’s $41,000 price tag is a shocking disappointment. When visiting Michigan last week to tout the success of the auto industry bailout, President Obama drove the new Chevrolet Volt a few feet and proclaimed, “This car right here doesn’t need a sip of gasoline for 40 miles and then keeps on going after that.’’
But who will drive the Volt out of showrooms in late 2011? It will be $8,000 more costly than Nissan’s Leaf electric car, more than twice the price of conventional compact cars — and even more expensive than an entry-level Mercedes, BMW, or Audi. Leasing costs for the Volt are somewhat more competitive. But if General Motors wants the Volt to catch on, the purchase price must come down quickly.
The offerings from Chevrolet and Nissan are quite different: The Leaf is electric only, with a range of 100 miles. The Volt switches to gasoline after its 40 miles of electric charge are used up and supposedly can go for another 300. But both vehicles are targeted to environmental-minded buyers, and both qualify for a federal $7,500 tax credit.
GM hopes to sell 10,000 Volts next year and 45,000 in 2012. That’s a far cry from Obama’s goal of 1 million electric cars on the road by 2015.

The rest here.