Jack Welch always pushed his executives to broadly define their markets, so that they no longer ranked themselves #1 or #2. I say the Chevy Volt competes in the same class as other vehicles with the same seating and styling, and needs to meet or beat ICE vehicles in some aspect to command a premium price - in most cases, mileage / cost per mile.
As far as tech, there are vehicles emerging with tech that could easily be dropped into a competing vehicle - Fisker hybrid, Tesla Motors REEV, Tata Air Car, eTec Hydrogen ICE and so on. Perhaps there are no vehicles in the Volt's class for $35K, but in a year or two, any of these companies (with the right partner) could offer one.