Mitsubishi unveils new electric car
Updated on 05 June 2009
Mitsubishi Motors Corp's electric vehicle is twice as expensive as popular hybrid cars by rivals Toyota and Honda, but Japan's No. 4 automaker said the i-MiEV will help it survive increasingly intense global competition.
"With the electric vehicle, we will challenge global players," said Mitsubishi Motors President Osamu Masuko at a news conference where the company rolled out the new model.
The i-MiEV is powered solely by electricity, and can be recharged from a regular home socket.
The four-seater vehicle can run up to 160 kilometers (100 miles) after charging seven hours at 200 volts.
"It is a zero-emission vehicle. It does not rely on oil, which is different from hybrid cars," Masuko said.
A hybrid car switches between a gas engine and electric motor to boost mileage.
The price tag is also different. Mitsubishi's i-MiEV costs 4.59 million yen (£29,500), more than twice as much as Toyota Motor Corp's new Prius hybrid, which is just over 2 million yen (£12,800).
Masuko acknowledged the high price is a major hurdle to encouraging people to buy the i-MiEV, which stands for Mitsubishi innovative electric vehicle. (The initial "i" doesn't have any particular meaning, the company says.)
"This is not the price that ordinary people can easily buy. But as we increase our production, we aim to cut the price below 2 million yen," he said without elabourating further.
Initially, Mitsubishi aims to target local governments and companies, and hopes to sell 1,400 units of the electric car for the fiscal year through March 2010.
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