General Motors will price its new Chevrolet Spark electric vehicle at $27,495, including destination charges and before federal tax credits, placing it among the cheapest EVs on the market.
GM said today that it kept the sticker price at less than $20,000 after a $7,500 federal tax credit is applied. It also is offering a $199 per month, 36-month lease with $999 down, matching the lease deal of the rival Fiat 500e.
The Spark EV will go on sale in some markets in California and Oregon by mid-June, GM said. Other EVs include the larger Nissan Leaf ($29,650), Fiat 500e ($33,200) and Mitsubishi i-MiEV ($29,975). All prices include destination charges.
California buyers can qualify for additional state and local tax credits and incentives of up to $2,500 reducing the price to $17,495.
The Spark EV will get the equivalent of 119 mpg in combined city and highway driving and a range of 82 miles (130 km).
A GM spokeswoman said the company will consider selling the Spark EV in other markets after the launch. She said the bulk of EV sales are targeted for California and Oregon.
Chevy plans to market the Spark EV as a zippy urban car for commuters who want to stay connected. It will include a standard Chevy MyLink infotainment system with several smartphone-based applications. The gauge cluster will display a "confidence gauge" showing a minimum, maximum and average expected range that adjusts in real time based on driving conditions.
The GM-built electric motor, combined with a 560-pound (254 kg) lithium ion battery pack, will deliver 130 hp (95 kw) and 400 pounds-feet (542 Nm) of torque. GM says it will go from 0 to 60 mph in under 8 seconds.