2011 Chevrolet Volt side
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Back in October of 2010, the California Air Resources Board (CARB) rated the 2011 Chevrolet Volt as an Ultra Low Emissions Vehicle (ULEV). That's below the SULEV and PZEV ratings of cars like the Jetta TDI, Toyota Prius, Honda Insight and Honda CR-Z. Unfortunately, the 2011 Volt's ULEV status and its inability to qualify as an Advanced Technology Partial Zero Emissions Vehicle (AT-PZEV) means that it's not eligible for California's $5,000 tax rebate.

However, reports indicate that General Motors is working on a modified Volt, to be launched in 2012 or 2013, that will qualify for California's substantial rebate. The General has reportedly decided to offer a version of the Volt that has a ten-year or 150,000-mile warranty, thus making the plug-in hybrid AT-PZEV compliant. GM currently backs the Volt's electric-drive and battery components with an eight-year or 100,000-mile warranty.

If the reports pan out to be true, Volt's sold in California may eventually be eligible for both the $7,500 federal tax credit and the State's $5,000 rebate, effectively cutting the base price of Chevy's $41,000 plug-in by $12,500.

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[Source: Care2]