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Chevy Spark Will Cost Less than $25,000

The new electric version will sell for under $25,000 after a tax credit from the U.S. government of $7,500

November 27, 2012 – The Chevrolet Volt, the hybrid plug-in has not met sales goals that General Motors set. The automaker however, plans to start selling a new all electric version of their Chevrolet Spark. The car will be ready initially in Oregon and Californian sometime during the third quarter of 2013.

The new electric version will sell for under $25,000 after a tax credit from the U.S. government of $7,500, said the automaker on Monday in a statement that was emailed. A spokesman for GM declined to give an exact price for the vehicle. The current Spark that has a gasoline powered motor has a price of $12,245.

GM’s Spark EV is its effort at producing as many as half a million vehicles each year before 2017 with some type of battery propulsion. The automaker announced its plans about the Spark prior to the Los Angeles Auto Show that takes place this week.

The Spark follows the Chevy Volt, which was first launched in 2010, but has failed to reach the sales target that Dan Akerson the CEO set of 60,000 globally in 2012 of which 45,000 was the target for the U.S.

In June, the CEO stepped back from the 60,000 goal, saying that sales would total 40,000. As of the end of October, GM has sold just over 19,300 Volts across the U.S.

The price of the Volt after a tax credit of $7,500 is $31,645 for the basic model. It can travel over 30 miles on just electric power before the gasoline engine has to kick in to propel it. GM announced it would also start production of a two-door Cadillac hybrid named the ELR that is based on the same technology the Volt has.

The Spark EV does not have an engine powered by gasoline hat will power the auto after the battery has been depleted. However, it will have a system that will recharge the car’s battery in 20 minutes to approximately 80% capacity.

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