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The automaker had initially planned to start leasing the minicar-based vehicle to businesses and municipalities next summer and to wait until 2010 for the retail launch. But it moved up the retail release in light of smoother-than-expected preparations for mass production and the favorable sales conditions created by runaway gasoline prices.
Production is to begin as early as April, using the line for minicars at the Mizushima factory in Kurashiki, Okayama Prefecture.
Mitsubishi Motors intends to set the price for the i MiEV at around 4 million yen (US$37,496). But government subsidies for low-emission vehicles are likely to reduce the actual price to an estimated 3 million yen.
The car is to be equipped with an advanced lithium ion battery developed with partners including GS Yuasa Corp. (TSE:6674). As a result, the i MiEV will be able to travel around 160km without a recharge. Based on current utility rates and gasoline prices, it will be able to run 1km for 1 yen -- roughly 10 per cent the cost of gasoline-powered cars.
The battery will be rechargeable from standard household outlets. But to increase user convenience, Mitsubishi Motors will set up rapid chargers developed with Tokyo Electric Power Co. (TSE:9501) at post offices, shopping malls and elsewhere.
Mitsubishi Motors hopes to sell 2,000 i MiEVs in the first year and to boost the figure to 10,000 units by fiscal 2011.
Among Japanese automakers, Fuji Heavy Industries Ltd. (TSE:7270), the manufacturer of Subaru vehicles, plans to start selling an electric car to businesses as early as 2009. Nissan Motor Co. (TSE:7201) is developing an electric car, with a goal of launching it in 2010.
(Nikkei)
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