Mitsubishi Motors is cutting the price of its i-MiEV electric car by one third in Japan by introducing a new entry level model.
The new, lower-priced model, being introduced over the next few months, will cost less than JPY2m (US$25,000) and will use downsized the battery capacity, President Osamu Masuko said.
The current i-MiEV costs JPY2.98m (US$37,000) if subsidies for electric vehicle purchases are applied. Mitsubishi said it aims to more than triple the annual sales of the zero-emission vehicle to 25,000 units in the year starting in April.
In fiscal 2011, the automaker also plans to launch a product which enables customers to use the built-in battery of an EV to power electric appliances requiring a considerable amount of electricity, such as a rice cooker, it said.
The company said it received requests for such a feature from people in areas devastated by the March 11 quake and tsunami when it provided the EVs for relief efforts there.
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