General Motors to launch a new compact EV with a 200 mile range in 2016.

Could have a range-extending engine that runs on petrol, diesel or natural gas

General Motors CEO Dan Akerson has revealed some new details about the company'supcoming electric vehicle.

Speaking with Business Week, Akerson said the model will be a compact car that has a range of approximately 200 miles (322 km). He also said the car could be equipped with a range-extending engine that could run on petrol, diesel or natural gas.

Akerson declined to go into specifics but a source told the publication the model will be launched in 2016 and cost approximately $30,000. This would make the car significantly cheaper than the Chevrolet Volt which starts at $34,995 (including an $810 destination fee)

Source: Bloomberg Businessweek.