2013 Honda Fit EV Rated at 118 MPGe image

The Environmental Protection Agency (EPA) has announced that the 2013 Honda Fit EV has been rated at 118 MPGe. It is the highest rating issued by the EPA, besting the 112 MPGe of the Mitsubishi i EV.

The Fit EV also bests the Mitsubishi with an EPA consumption rating of 29 kilowatt hours per 100 miles, edging it by one kilowatt hour.

The measure is confusing, since the car doesn’t use any gasoline. But the upshot is a whole year’s worth of electricity to power the car is estimated to cost less than $500 if the buyer opted for gas instead.

The Fit, whose availability will be expanded to other U.S. regions in 2013, is also faster in recharging than competing models as the small hatchback needs only three hours to get a full charge from a 240-volt electric outlet, Tokyo-based Honda said.

The Fit EV carries a price of $36,625 (plus a mandatory $770 delivery fee), but Honda only plans to lease the car (for around $399 a month over three years), not sell it.

It will be offered this summer in select California and Oregon markets, and Honda says it will follow with a rollout on the East Coast next year.