The reports, citing an anonymous source briefed by GM, said the concept will be called the Chevrolet Bolt, not to be confused with the currently-in-production, plug-in electric hybrid Chevrolet Volt.
The Chevrolet Bolt name was trademarked by the Detroit automaker in August, according to the GM Authority news website.
Automotive News reported the Bolt will be larger than GM's plug-in electric hybrid Volt and have a targeted price of $30,000 and $35,000, before a federal tax discount.
The vehicle would compete with an electric car being developed by upstart Tesla Motors that intends to make a more affordable model than its current Model S, which typically is priced in the $70,000 range.
In a statement GM said:
"On Monday, January 12, Chevrolet will kick-off the 2015 North American Auto Show with the introduction of the all-new Chevrolet Volt. We are excited to share details regarding the 2016 Volt, which will build on the award-winning original's strong foundation of innovation and remain the most capable plug-in vehicle in the industry. We have no other announcements to discuss at this time."
The current-generation Volt can travel up to 38 miles on a full battery charge, before tapping its gasoline engine. Combined electric and gas, the current Volt has a driving range of 380 miles.
GM has made it no secret it plans to unveil a new, 2016 Chevrolet Volt that will have a 1.5-liter engine, which is being built at GM's Toluca, Mexico engine plant for the first year but could later be produced at the Flint Engines Operations Plant.
The 2016 Volt will be one of five new or significantly redesigned vehicles that Chevrolet plans to launch in 2015, GM executives said in August. The brand has not announced the other four.
GM has remained mostly tight-lipped on details of the 2016 Chevrolet Volt. What's known thus far is that the new Volt will have a greater range than its current incarnation, first launched in 2010 with a 1.4-liter, four-cylinder engine ranked at 98 MPGe by the U.S. Environmental Protection Agency.