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Nissan To Release First Affordable All-Electric Car

Amy Munday's picture

The electric car industry is finally getting affordable. The new electric car technology has been plagued by outrageous prices since its inception, but the Nissan Leaf will be available for $25,000.

The Leaf's base price is $32,780, but a $7,500 federal tax credit for buying the car is making rival electric car makers scratch their heads on whether to decrease projected prices.

Toyota, who has been ravished by their involuntary speeding cars, shut down two plants in Europe to prepare for a new electric model. Perhaps being a strong competitor with Nissan will boost Toyota's slumping sales.

The least expensive electric or hybrid cars begin pricing around $20,000, which doesn't seem too exorbitant, but taxes, fees and other hidden costs add up quickly. Especially when gas or diesel fueled cars in the same price range offer more luxury features.

Honda's Insight LX starts at $19,800, but explains more fees are eventually added and the model is very standard. The same car has upgrades that reach costs up to $25,000. This is a hybrid model however, not all-electric.

Nissan Leaf will only be available in 20 cities in the U.S. until the end 2011. Pricing options and financing will be available as soon as the cars hit the market.

The federal tax credit amount will start shrinking after over 200,000 electric cars have sold. Nissan, Toyota and Chevrolet will be battling as leader in the electric car industry by 2011.

Written by Amy Munday

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