Mitsubishi Launches $47,000 Electric Car

In a strategic move to gain an upper hand over its competitors in the emission-free vehicle market, Japan's Mitsubishi Motors has launched i-MiEV, a compact, four-door electric car.

The lithium-ion battery powered i-MiEV can travel 160 kilometers on a single charge. Mitsubishi is all set to start selling the new car to corporate and government customers in Japan during late July, before competitors like Toyota and Nissan launch their rival models.

Mitsubishi's i-MiEV will cost around $47,560. Even though the car is twice as expensive as popular hybrid cars from Toyota and Honda, the company is upbeat about its new car to survive intense global competition.

Osamu Masuko, President, Mitsubishi, said: “With the electric vehicle, we will challenge global players”.

Mitsubishi aims to sell 15,000 units of i-MiEV worldwide, mostly in Britain and other European countries for the year through March 2012.

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