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U.S. opening formal probe into GM Volt fire risk Photo 5:46pm EST (Reuters) - U.S. auto safety regulators are opening a formal investigation into fire risks in General Motors' Volt vehicles. The National Highway Traffic Safety Administration said on Friday it was taking the step after efforts to recreate a May crash test saw fires result from two out of three crash tests performed this month. "While it is too soon to tell whether the investigation will lead to a recall of any vehicles or parts, if NHTSA identifies an unreasonable risk to safety, the agency will take immediate action...

Motor Trend says the Volt has some of the most advanced engineering ever seen in an American car. The Volt can run up to 50 miles in pure electric mode before a backup gas engine kicks in to give it more range. Motor Trend also said Tuesday that the car is a great value. It costs $33,500 with a federal tax credit, but will likely be cheaper to run than a traditional hybrid. The Volt goes on sale next month.

The long-anticipated Chevrolet Volt, General Motors' electric car, will cost $41,000, the company announced Tuesday, leaving consumers to decide whether its environmental appeal is worth a price far above that of similarly sized conventional autos. Electric-car technology has been around for years, but the high cost to make the vehicles has prevented automakers from producing them for the mass market. The price announcements for the Volt and its electric rival, the Nissan Leaf, have been highly anticipated as a result. Nissan, the only other major manufacturer expected to bring such a vehicle to market this year, said the Leaf will...