GM Chevrolet Spark EV Priced $19,995 in the US image

The Chevrolet Spark EV subcompact will cost in the US with 38% less than the hybrid Volt.

The 2014 Spark EV will go on sale in June in Oregon and California, for the price of $19,995, after the federal tax credit of $7,500, according to GM. The Chevrolet Volt, which hit the market in the fall of 2010, is priced at around $32,500 after the tax credit.

“The Chevrolet Spark EV is the most efficient – and now one of the most affordable – EVs you can buy,” Chris Perry, GM’s vice president of Chevrolet marketing, said in a statement.

GM ha put vehicles with electrical technology at the center of its global strategy. The automaker plans to manufacture up to 500,000 vehicles annually by 2017, all including some form of electric engine power, such as the Spark EV, the Volt and all models with eAssist. Later this year the company will begin manufacturing the Cadillac ELR plug-in electric coupe.

GM relies on its Spark EV and other electric models to surpass Toyota and become the “greenest automaker in the world”. The California Spark EV could be leased for as low as $199 a month or $999 for 36 months.

Source: Reuters