Naturally, the Volt 2.0 will see all sorts of other improvements as well: Interior plastics, instrument panel and telematics immediately come to mind.

What GM had better not change is the basic drivetrain concept: A strong electric car, with a range-extending internal combustion engine. This is still unique in the industry -- and I'm not counting the $100,000+ Fisker Karma exception.

All other plug-in hybrids in the market -- primarily those from Ford ( F) and Toyota ( TM) -- are "hybrids" first, requiring somewhat frequent use of the petrol engine. This totally takes away the "fun" factor from driving an otherwise supposedly "electrified" car. The Volt can accelerate 100% and up to its 100 MPH speed limit, 100% on electric power. The competition does not do this.

Conclusion: GM can't afford to skimp on the Volt's "hard core" electric power. The electric motor in the Volt 2.0 can't be any less powerful than in the current Volt. If GM fails to understand this, the Volt will go from being a success in customer satisfaction, to a failure.

GM has a winner on its hands, with the current Volt having the highest customer satisfaction of any car in the market. The main reason for this is the powerful all-electric feeling of the electric motor, in combination with the class-leading average electric range of 35-40 miles.

GM's To-Do List for Volt 2.0:

1. Keep the powerful all-electric part of the drivetrain.

2. Lower the cost of the battery.

3. Keep the average electric range of 35-40 miles the same or increase it, even if slightly.

4. Improve interior materials/plastics and the dash/infotainment controls.

5. Look into making a 5-seat model?

6. Perhaps make 6- and 7-seat models? Minivan, SUV.

At the time of publication, the author held no positions in stocks mentioned.

This article was written by an independent contributor, separate from TheStreet's regular news coverage.

If you liked this article you might like

Volkswagen Tiguan Named Top Compact SUV Under $35,000

How to Live Just Like Billionaire Warren Buffett

Market Signals Change of Direction: Cramer's 'Mad Money' Recap (Monday 9/18/17)

GM Employees in Canada Go On Strike Over Production Shifts to Mexico

Cramer: Irma and Harvey Busted the Algos