March 30, 2010 / 11:35 AM / in 9 years

Mitsubishi Motors lowers price of electric i-MiEV

TOKYO, March 30 (Reuters) - Mitsubishi Motors Corp (7211.T) said it would lower the price on its electric i-MiEV car by 619,000 yen to 3.98 million yen ($43,020), pitting it against rival Nissan Motor’s (7201.T) zero-emission Leaf model.

The Japanese automaker will lower the price on April 1, when it begins sales to individuals after selling the i-MiEV mainly to corporate customers since July 2009.

If Japan extends its incentives on electric cars into the business year starting in April, the i-MiEV would be eligible for subsidies of 1.14 million yen, leaving the customer with a price tag of 2.84 million yen, it said in a statement on Tuesday. ($1=92.52 Yen) (Reporting by Chang-Ran Kim; Editing by Jon Loades-Carter)

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