Mitsubishi Motors Corp., the maker of the i MiEV electric car (earlier post), 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.
Tokyo-based Mitsubishi rose 1.1 percent to 180 yen as of 1:08 p.m. on the Tokyo Stock Exchange.
Nissan, Japan’s third-largest automaker, has said it plans to introduce electric cars in Japan and the U.S. in 2010 and mass-produce them globally in 2012. Toyota, the world’s largest maker of gasoline-electric hybrid car, is also developing electric cars for sale in 2012.
Prime Minister Taro Aso is giving fuel-efficient car buyers subsidies and tax breaks for new vehicles to spur sales as part of a 15.4 trillion yen economic stimulus program. The government expects the incentives to add about 1 million vehicles to sales this fiscal year.
Mitsubishi Motors also plans to sell a plug-in hybrid version of the I MiEV in 2013, the company said today.
Source: Bloomberg
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.
Tokyo-based Mitsubishi rose 1.1 percent to 180 yen as of 1:08 p.m. on the Tokyo Stock Exchange.
Nissan, Japan’s third-largest automaker, has said it plans to introduce electric cars in Japan and the U.S. in 2010 and mass-produce them globally in 2012. Toyota, the world’s largest maker of gasoline-electric hybrid car, is also developing electric cars for sale in 2012.
Prime Minister Taro Aso is giving fuel-efficient car buyers subsidies and tax breaks for new vehicles to spur sales as part of a 15.4 trillion yen economic stimulus program. The government expects the incentives to add about 1 million vehicles to sales this fiscal year.
Mitsubishi Motors also plans to sell a plug-in hybrid version of the I MiEV in 2013, the company said today.
Source: Bloomberg
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