JAPAN: Mitsubishi Motors unveils its i-MiEV electric vehicle priced at 47,580 U.S. dollars

Record ID: 463497

  • Title: JAPAN: Mitsubishi Motors unveils its i-MiEV electric vehicle priced at 47,580 U.S. dollars
  • Date: 5th June 2009
  • Summary: TOKYO, JAPAN (JUNE 05, 2009) (REUTERS) MITSUBISHI SHOW GIRLS UNVEILING THE I-MIEV, MITSUBISHI'S NEW ALL-ELECTRIC CAR RECHARGE STATION FOR I-MIEV I-MIEV ON STAGE WITH COMPANY PRESIDENT WALKING UP TO PODIUM (SOUNDBITE) (Japanese) OSAMAU MASUKO, PRESIDENT OF MITSUBISHI MOTORS CORP, SAYING: "It's been 100 years since cars were first produced, and we hope the i-MiEV will be the pioneer car to open the door to the next 100 years. Our aim is to increase understanding of EVs, improve technology and establish infrastructure, and finally to accelerate the adoption of EVs." I-MIEV (SOUNDBITE) (Japanese) OSAMAU MASUKO, PRESIDENT OF MITSUBISHI MOTORS CORP, SAYING: "We believe that EVs are the ultimate solution to atmospheric pollution, global warming and the end of oil. Introducing the 100 percent - electric i-MiEV onto the market will both test the pinnacle of current technology and lead the way to a new era." JOURNALISTS TAKING PICTURE OF MASUKO ON STAGE WITH I-MIEV I-MIEVS PARKED IN FRONT OF MITSUBISHI SHOWROOM EMPLOYEE TAKING QUICK CHARGE CABLE FROM STATION EMPLOYEE OPENING CHARGE PORT ON I-MIEV AND INSERTING CORD EMPLOYEE HOLDING CORD AND CHARGING I-MIEV I-MIEV SITTING ON TOP OF SWITCH SWAP BATTERY CHANGER BATTERY CHANGE SYSTEM UNDERNEATH I-MIEV BATTERY USED IN I-MIEV I-MIEV ENGINE OPENING DOOR OF I-MIEV MITSUBISHI EMPLOYEE DEMONSTRATING SITTING DOWN IN I-MIEV DASHBOARD LIGHTING UP AS CAR IS TURNED ON I-MIEVS LINED UP REFLECTED WITH MITSUBISHI ABOVE
  • Embargoed: 20th June 2009 13:00
  • Keywords:
  • Location: Japan
  • Country: Japan
  • Topics: Science / Technology,Transport
  • Reuters ID: LVA4ZJCDTQD4JJDEGYIY8M2OETYO
  • Story Text: Japan's Mitsubishi Motors Corp unveils its i-MiEV electric vehicle priced at $47,580 U.S. dollars, less than a rival electric car but still double the price of popular hybrid gas-electric vehicles.
    Plug in, charge and drive -- the age of EVs, or electric vehicles, is at hand, and Japan's Mitsubishi Motors hopes it energizes an otherwise low-watt car business.
    On Friday (June 5), Mitsubishi unveiled its i-MiEV electric vehicle priced at $47,580 U.S. dollars - less than a rival electric car but still double the price of popular hybrid gas-electric vehicles.
    Mitsubishi said it would price its car at 4.6 million yen, below Fuji Heavy Industries' electric car which will be sold for 4.7 million yen. Both cars will be sold to fleet customers in Japan.
    Mass production of i-MiEVs has begun with over 2,000 on order, and Mitsubishi President Osamu Masuko said output will hit 30,000 over the next few years.
    "It's been 100 years since cars were first produced, and we hope the i-MiEV will be the pioneer car to open the door to the next 100 years. Our aim is to increase understanding of EVs, improve technology and establish infrastructure, and finally to accelerate the adoption of EVs," said Masuko on Friday (June 5).
    "We believe that EVs are the ultimate solution to atmospheric pollution, global warming and the end of oil. Introducing the 100 percent - electric i-MiEV onto the market will both test the pinnacle of current technology and lead the way to a new era."
    A top seller could only come too soon for Mitsubishi, as U.S. business in the global recession is down over 50 percent this year, while the firm was in the red last year.
    Strong sales of Toyota's new Prius and Honda's hybrid Insight have raised the bar for EVs, which are cleaner but twice as expensive before Japanese government subsidies.
    Reuters poll of Japanese retail investors last month showed the most popular price range for electric vehicles at 1.5 million to 2.0 million yen.
    Honda Motor's Insight hatch-back carries a price tag of as low as 1.89 million yen, and prices for Toyota Motor's Prius start at 2.05 million yen.
    The Insight and Prius, which are sold to general consumers, were fully remodeled this year and their prices were cut sharply from previous levels.
    Honda's Insight became the first hybrid car to head the list of best-selling cars in Japan in April, while Toyota's Prius took the top spot in May.
    The i-MiEV, which gets 160 kilometers on a 30-minute quick charge, will be sold at $47,580 U.S. dollars, while other EVs from Subaru and Nissan will also be pricey when unveiled.
    Key will be, advances in the lithium ion batteries and the spread of recharging sites, which may include convenience stores as well as highway stands.
    Still, some will choose to charge at home, taking about seven hours on a 200-volt outlet, but leaving the i-MiEV ready to roll on roads both in Japan and abroad.
    Shares of Mitsubishi Motors rose 2.3 percent to 175 yen, compared with the Topix auto subindex, which gained 0.5 percent.
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