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Cheapest Electric Vehicle in the U.S.

Mitsubishi Electric Vehicle for $69 a Month

Written by Swagato Chakravorty
Posted January 28, 2013 at 5:55PM

As the electric vehicles sector continues to expand within the U.S.—this year is slated to see several new entrants to the market—an Illinois dealer is now offering the Mitsubishi (TYO: 8058) i-MiEV on lease for two years for a mere $69 per month prior to taxes.

Granted, the i-MiEV has its limitations. It’s tiny, for one. It has the highest efficiency rating around (112 mpg-e), but its small size means it can go just 62 miles per charge. And it has a price tag of $32,000—all of which probably explains why only 588 units were sold last year.

Per Yahoo! Autos, however, O’Brien Mitsubishi of Normal, Illinois is looking to change all that with its pricing program. Consumers can pay $69 a month for a two-year lease on the i-MiEV, prior to fees of $2,100. Alternately, consumers can choose to pay $169 per month inclusive of fees. The dealership keeps any federal credits.

This is symptomatic of a wider pricing economy that is increasingly affecting electric vehicles. Nissan (TYO: 7201) recently declared that it would be reducing the price of the base-level Nissa Leaf 2013 by $6,000. That’d bring its cost down to $21,300 inclusive of federal rebates, a decrease of 18 percent from last year’s price.

Clearly, EV pricing is beginning to come down as economies of scale take hold and producers seek to woo consumers.

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