SEOUL, KOREA - The new electric car "Spark EV" will be available at below US$20,000 in the United States. The Chevrolet Spark EV is assembled in GM Korea's Changwon plant and exported to the North American market.
Chevrolet announced on May 23 that it has set the price of its upcoming Spark EV at $27,495. Excluding state and federal tax credits of more than $7,500, the final price would be below the $20,000 level. The Spark will only be sold in California and Oregon when it launches in June. In the state of California, the car's price will go down further as low as to $17,495 because of the federal government subsidies.
The price of the Spark will be lower than those of the Nissan Leaf ($29,650), Fiat 500e ($32,000), and Mitsubishi i-MiEV ($29,975). Chevrolet will lease a Spark at $199 per month with $999 down for three years.
The Spark will be launched in Korea this fall. According to a GM Korea official, the final price will be determined at around the mid- or late-20 million won level after government subsidies. The details of the terms will be finalized after a negotiation with the Ministry of Environment.
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