Chevrolet recently released pricing information for the 2016 Malibu Hybrid, the first full-hybrid vehicle of the Malibu lineup.

When the hybrid goes on sale in spring 2016, it will have a starting price of less than $30,000, which is considered cheaper than the Chevy Volt, AutoWeek reported.

To be exact, the price will be $28,645, which already includes a destination charge of $875, as reported in The Christian Science Monitor.

Introduced in April this year at the New York Auto Show, the 2016 Malibu Hybrid can run on power alone for a mile, with an expected rating of 48 miles per gallon (mpg) for city, 45 mpg for highway, and a combined rating of 47 mpg.

The Malibu got an impressive rating because it is based on the 2016 Chevy Volt powertrains. AutoWeek also noted that the upcoming Malibu, when put together its gas engine and electric power, will yield a net horsepower of 182, which is not entirely a remarkable feat in hybrid supercars. However, the Malibu is still considered a better vehicle than the smaller Volt.

The Malibu carries a modified Chevy Volt powertrain, with1.8-liter four-cylinder engine to replace Volt's 1.5-liter. It also has a smaller 1.5-kilowatt hour (kWh) battery pack. The new hybrid is considered to be a better version compared to the previous members of the line-up, all thanks to the 2016 Volt technology.

When it gets released, the Malibu is expected to rival the likes of Toyota Camry, Ford Fusion, and Hyundai Sonata.

Chevrolet's Malibu is not a new model; the company had released a mild-hybrid Malibu in the past and the car only had a small electric motor, making it fuel inefficient.

But this time, Chevrolet promises that the 2016 Malibu Hybrid should be a better and more improved vehicle, highlighting that it's more fuel efficient, as it will have 48 mpg versus the rating that old models got, which was in the range of less than 30 mpg.