Chrysler is pinning a huge part of its future on a plan to produce a full line of electric vehicles, at a reasonable cost to both the carmaker and the consumer.

While General Motors is moving ahead with its Volt electric midsized car, Chrysler says it already has plans in place, not just for electric cars, but also for minivans and even off-road vehicles.

Chrysler's strategy hinges on keeping it cheap. The carmaker will dispense with flashy designs in exchange for low cost and flexibility. And it plans to pile on more electric-powered models quickly once the program launches in 2010.

"We aren't a one-electric-vehicle company," Lou Rhodes, Chrysler's vice president for advanced vehicle engineering, told CNNMoney in an exclusive interview.

Rhodes is also president of Chrysler's ENVI, a separate business division tasked with bringing new electric vehicles to market.

Instead of making one, or just a few, electric-only models, Chrysler will sell the same models in both gasoline-powered and electric-powered versions. This low-cost, high-variety electric-vehicle strategy will play a big part in any comeback plan Chrysler may present in hopes of getting government rescue funding.

Chrysler's strategy substantially cuts costs, Rhodes said, and it reduces the risk of entering uncharted market territory. That will translate into lower costs and more choices for customers.

If gas prices stay low, Chrysler factories will produce more gasoline powered models. If gas prices rise, factories can start rapidly turning out more electric cars since the models are essentially the same.

Chrysler's first electric vehicles will be based on current vehicles. The carmaker hasn't yet announced what the first model will be but, based on prototypes Chrysler revealed in September, it will likely be a minivan, a Jeep Wrangler 4X4 or a 2-seat sports car built in a Lotus body.

At least some of Chrysler's products will be extended-range electric vehicles, like GM's Volt. Because the car's body will not have been designed around optimal weight and aerodynamics, the Chrysler vehicle will need a more powerful electric drive system to provide performance similar to the Volt's. For instance, Chrysler promises the same 40-mile all-electric plug-in range as the Volt. (After that, a small gasoline engine will start up to produce more electricity as the car drives.) But the heavier Jeep prototype has a 27-kilowatt-hour (KwH) battery back compared to the Volt's 16 KwH pack.

Round two