General Motors is set to release its electric car, the Volt, at the end of 2010. It has a purchase price around $33,500, after a $7,500 federal tax credit. However, the lease price is probably what will draw consumers in. For a 36-month lease, consumers can expect to pay about $350 a month, with $2,500 to be paid at signing. This includes 5 years of GM’s OnStar service.

The Volt is powered by a lithium-ion battery, but also has a backup four-cylinder gasoline engine.

The Volt is being released at a comparable lease rate to the Leaf, which is manufactured by Nissan. Unlike the Volt, however, the Leaf does not have a gasoline engine backup. GM is confident that the Volt is a worthy competitor for the Leaf, and has recently announced that the Volt’s battery will be guaranteed for eight years or 100,00 miles. David Dorovitz, a spokesman for General Motors, said, “With the battery warranty that we just announced, we’re confident that the Volt’s going to have a high resale value.”

The Volt will be available only in California, New York, Michigan, Connecticut, Texas, New Jersey, and Washington D.C. Interested consumers can find a Volt dealer through getmyvolt.com.