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Major Price Drops Coming For Electric Vehicles

High prices have always been a hurdle for electric vehicles – if they’re too expensive for average drivers to buy, wide-scale integration will never be possible. Fortunately, it looks like that axiom is about to change dramatically.
Nissan Leaf EV

Nissan Leaf image via Shutterstock

Purchase prices for both top-selling electric vehicles, the Nissan Leaf and Chevy Volt, are set to plunge, potentially opening up emissions-free driving for a much wider class of drivers and turning a corner toward a sustainable transportation future.

18% Price Cut For Nissan Leaf

Nissan first took the low-price pole position, announcing last week that the 2013 Leaf EV would start at a manufacturer suggested retail price (MSRP) of $28,800 for the entry-level S grade vehicle.

This is an 18% reduction from the 2012 Leaf entry model’s $35,200 MSRP, and makes the 2013 Nissan Leaf S the lowest-priced five-passenger EV sold in America. But even better, consumers may now theoretically purchase a Leaf for as low as $18,800, depending on available federal and states tax credits.

The two higher-end Leaf models, the SV and SL, will also see significant price drops in 2013 compared to 2012, with the SV falling 10% to $31,820 and the SL falling 6% to $34,840. Perhaps best of all, Nissan will assemble 2013 Leafs, battery packs, and electric motors at three facilities in Tennessee, supporting thousands of green jobs.
“Thousands Cheaper” For Chevy Volt

Not to be outdone, General Motors announced it would introduce a similar price reduction for the Chevy Volt. GM’s North America president stated the company would take out “thousands of dollars” from the next-generation Volt.

Improved battery pack and electric motor designs will allow the Volt’s cost-cutting move, but the exact pricing details are still to be finalized. Regardless, GM is setting its sights even higher, saying, “we will see the day when we have an affordable electric car that offers 300 miles of range with all the comfort and utility of a conventional vehicle.”
High Price Concerns Eat EV Dust
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