i-MiEV price cut for UK customers

Under pressure from Nissan's LEAF, Mitsubishi has chopped a whopping £10,000 off the entry price to its mass market i-MiEV electric vehicle.

Mitsubishi has cut a hefty £10,000 off the retail price of its i-MiEV, just months after bringing it to market. This was essential to align it with rivals, mainly Nissan's LEAF, which went to market from the outset with a realistic price tag.

When it comes to convincing the general public of its virtues as a consumer good, the electric car is proving to be no iPad. The product category might be radical, (potentially) exciting, clean, green and supported by hefty government buyer subsidies, but early adopters are not tearing open their wallets to sever ties with the internal combustion engine.

At the i-MiEV's UK release in March, the asking price was £38,699, after a government subsidy of £5,000 for electric and low emission vehicles. Having failed to set the private buyer world on fire, the company has announced a cut to £28,990 from January 1 next year, with the buyer incentive still in place pulling the price down £23,990 -- a perfect match for the LEAF.

UK media outlets have been applying pressure on the matter, asking about the rationale behind the cut in the light of Nissan's ability to go to market from the outset with a vehicle designed as an EV from scratch.

The i-MiEV, by contrast, emanates from an existing IC-powered model. A Mitsubishi spokesman was less than forthcoming, saying: "Mitsubishi is constantly monitoring market forces, including production costs. The equation is very complex."

Moves like this are entirely predictable in a market sector this new for what is, after a home, the second biggest purchase in most consumers' lives. Once the pricing water finds its own level, manufacturers can calculate the vehicle's value graph over one, three and five years with something approaching the accuracy they need to determine lease pricing.

The company has confirmed at this point it is restricting leasing to all-or-nothing packages. This stands to put it at a possible disadvantage against Nissan sibling Renault, which has announced a deal with power-pack specialist Better Place to separate car and battery in its leasing offer.

Not that the i-MiEV is too practically painful on the matter of charge -- while it takes nine hours to fill to 100 per cent from flat, it only takes half an hour to reach 80 per cent, and it's good for up to 125km on a single charge.

In UK spec, the i-MiEV will come with keyless entry, leather interior with standard (non-climate control) air-conditioning, heated driver's seat and mirrors, and alloy wheels.