Quick background story: The CEO of Tesla, Elon Musk, and David Letterman bashed the Chevy Volt on a previous show. Letterman thought the Volt’s maximum range was 40 miles; it’s not. So GM’s resident bulldog and VP of Product Development, Bob Lutz, went on the show yesterday to set Dave straight. He also revealed that GM’s target price is now $40,000 minus the $7,500 US Government tax credit. That’s a bit of info he wouldn’t reveal to us just two days ago when we drove a Volt test mule. Better hurry up and watch the video after the jump before it gets pulled.