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I’m a fan of the Chevy Volt, a pretty big fan actually – at least in the technology powering the Volt. Yet, in the next decade Toyota will sell millions of hybrid cars like the Toyota Prius, as GM sells hundreds of thousands of Volts.

Unfortunately, the technology powering the Volt just won’t be cost-effective for the masses until the 2020s, minimally, as the Prius turns into a profit machine and a gateway to Toyota plug-in vehicles.

However, the Volt’s range extended plug-in drive might just be the perfect fit for Cadillac. And according to the DetroitNews, the Cadillac Converj plug-in hybrid has been approved by GM’s board.

Already Toyota has proven that there is a market for luxury hybrid vehicles, and it seems the market for the Converj hybrid could be even far riper. American-made and green, this plug-in might just be the ultimate bling for luxury consumers.

Even better, a successful Converj could provide a big boost towards scaling down the Volt’s costs, and I’d bet the Converj will be a wildly successful Cadillac and luxury vehicle.