Mitsubishi Aims to Cut i-MiEV Costs By Mid-2010s

The company is also planning a plug-in hybrid version by 2013.

Published: 24-Jun-2009

Mitsubishi Motors Corp., the maker of the i MiEV electric car, plans to cut the vehicle’s purchase price by more than half to less than 2 million yen ($21,000) as government incentives and tighter emission rules boost demand for fuel-efficient cars.

The company will cut the i MiEV’s price tag by the “mid- 2010s,” President Osamu Masuko said at the company’s annual shareholders’ meeting in Tokyo. The price target includes tax breaks and subsidies from the government, he added. The carmaker will start selling the i MiEV in July for 4.6 million yen.

Mitsubishi Motors is unveiling its electric cars ahead of plans by larger rivals Toyota Motor Corp. and Nissan Motor Co. to introduce similar vehicles by 2012. Mitsubishi Motors aims to sell 1,400 i MiEVs domestically in the year ending March 31 and will start North American sales next year.

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