The president stopped by Compact Power battery plant in Holland, Mich., on Thursday, where he sat in the car. The parent company of Compact Power, LG Chem, will make the battery cells for the Volt.

The Obama administration has advocated for more fuel-efficient cars, such as the Volt, from manufacturers. The car launches late this year and is expected to have a range of about 340 miles.

“Because of advances in the manufacture of these batteries, their costs are expected to come down by nearly 70 percent in the next few years,” Obama said. “That's going to make electric and hybrid cars and trucks more affordable for more Americans.”