The Chevrolet Volt isn't in Oz anymore, Toto.

The ballyhooed electric car rolled into the real world Tuesday morning to cap celebrations for General Motors Corp.'s centennial.

"The Volt is symbolic of what GM stands for today," company Chairman Rick Wagoner said in the automaker's headquarters on Detroit's riverfront, adding "GM's second century starts right now" as Vice Chairman Bob Lutz drove the production version of the four-seat compact car into public view for the first time.

Nobody can accuse GM of underplaying the Volt's significance. Scheduled to go on sale in November 2010, the car relies on several new technologies to deliver 40 miles of cruising range on battery power alone and an onboard generator to keep the batteries charged on longer trips.

GM has bet its reputation - moreover, hopes of improving its reputation - on the revolutionary car's success.

"This Volt is GM's moon shot, the project that organized and measured the best of our company's abilities," Chevrolet General Manager Ed Peper said Tuesday, echoing President John F. Kennedy's description of the program to put a man on the moon.

GM has been unprecedentedly open about the program to develop the Volt. It has won vast positive publicity, but that attention guarantees massive headlines for any problems. Morale within the company also depends on getting the Volt on the road trouble-free.

GM expects to build the Volt at its Detroit plant, but it plans to use the Volt technology powertrain in a wide variety of vehicles around the world, possibly including midsize cars like the Chevrolet Malibu.

Assuming current rates for electricity, a Volt owner could theoretically drive 15,000 miles a year for $180 to $300, chief engineer Frank Weber said. Considering that the EPA estimates a compact car, like the Chevy Cobalt or Honda Civic, uses almost $2,000 a year in fuel, that savings would go a long way toward offsetting what's likely to be a $40,000-plus price. Cost and battery size should fall rapidly as production rises, Weber said.

The car unveiled Tuesday didn't have the production powertrain. That's undergoing round-the-clock tests clothed in the body of the humble 2007 Malibu sedan.

The final design also differs in significant ways from the angular Volt concept car GM first showed in January 2007.

The Web erupted with design critics when photos of the car leaked out last week.

Up close and personal, though, the production Volt is a sporty and distinctive hatchback. It's recognizably derived from the concept, but more modern and aerodynamic.

The production Volt has a rounded front end. Every surface has been sculpted in the wind tunnel to maximize aerodynamic efficiency and deliver the 40-mile all-electric range.

GM says that range will allow 80 percent of American drivers to use the Volt every day without ever using the generator's 1.4-liter gasoline engine. In other parts of the world, where commuting distances are generally shorter, an even higher proportion of drivers will be able to power the car solely with electricity, Weber said.

The Volt's slippery fastback styling encloses a four-seat interior that matches the passenger space in current compact cars. A center console running the length of the passenger compartment simultaneously contributes to a sporty wraparound feeling and houses a 400-pound pack of lithium-ion batteries.

The Volt's looks are almost immaterial to its success, however.

It's what's behind the curtain - the Volt's advanced but unproven battery - that matters here, Toto.