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Mitsubishi Increasing Production of I-MiEV, Intends to Drop Price to $22,000 By 2013

 
1,469 views Jan 22, 2010

Mitsubishi i-MiEV electric car at quick charging station

Mitsubishi i-MiEV electric car at quick charging station

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How can you tell that EVs are in high demand?  Look no further than Mitsubishi.  The company has increased production expectations for its i-MiEV several times before and is now increasing those numbers once again.

The Mainichi News is reporting that the company will increase production for 2010 from the expected 5,000 units up to a new target number of 8,500.  According to the report, orders "far outstrip" expectations.

Awhile back, the company increase their goal of 20,000 units in 2013 up to 30,000 units.  Now word is coming in that they may produced up to 30,000 units starting in 2012, a year ahead of schedule.

All of the increase in production come before the vehicle has even officially went on sale to the general public. Private citizens will have their chance to buy the i-MiEV starting in April of this year.  Exports to the U.S. and Europe will come soon after.

Increase demand and higher production numbers mean one thing in the automotive world.  Reduced costs.  With high demand, Mitsubishi plans to lower the cost of the vehicle.  A Mitsubishi official told the Mainichi News, " Following the production hike, we want to reduce the price of the car to around 2 million yen in several years, which is about the same as gasoline vehicles."

2 million yen roughly equates to $22,000, a price that is sure to intrigue buyers, though read the quote carefully above and you'll notice it says the company "wants" to reduce the price in "several" years.  Whether or not the company can successfully meet those goals will not be seen for several years.

Source:  Mainichi News





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Comments (10)

  1. By Jason M. Hendler Posted: 1/22/2010 6:12am PST

    Interesting, so vehicles that were once quoted to be $47,000 are now $22,000. Were the automakers just bluffing each other until we got close to product release dates, or is Mitsubishi just trying to prevent Volt sales now?
     
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  2. By Noel Park Posted: 1/22/2010 1:01pm PST

    Didn't the original $47K price reflect some massive subsidies for these cars in Japan? Maybe the subsidies have run out and the price is being dropped accordingly. Much like the scenario of Prius pricing here, LOL.
     
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  3. By CarollH Posted: 1/22/2010 2:08pm PST

    The big drop in cost not mentioned in the article has been in EV batteries. With the higher production rates and new technology battery cost has dropped significantly. The battery cost is what makes EV's more expensive then ICE's. The electric motor is cheaper the an internal combustion engine by far.
    If I can get one in Minnesota for $22K I'll be putting my money down.
     
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  4. By CarollH Posted: 1/22/2010 2:12pm PST

    I need to add, that is if the price includes the Li-Ion batteries.
     
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  5. By  Bret Posted: 1/22/2010 2:45pm PST

    I think it's smart for Mitsubishi, Nissan and Ford to price their EVs competitive with their ICE vehicles. If they try to price EVs at a big premium, they will lose this EV business to someone like Hyundai or Kia.
     
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  6. By Noel Park Posted: 1/22/2010 3:01pm PST

    #4 CarollH - Yeah, the dreaded "L word" did cross my mind, LOL.
    #5 Bret - Or BYD, or one of the other Chinese outfits lurking in the wings. See Jason's post on Zapp, wich is up right now.
     
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  7. By Noel Park Posted: 1/22/2010 3:05pm PST

    #5 Bret - Sorry, ZAP. I can see them, BYD, or some other Chinese producer, low balling even Hyundai and Kia.
     
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  8. By Bryan Posted: 1/22/2010 8:50pm PST

    Yeah, but, and it's a big butt, BYD is saying $40,000USD for their new all-electric car, the e6. I kind of dig the e6, but, I'm a huge Mitsubishi fan now, I drive a '08 Lancer GTS and love it. Reading this article is huge for me, because I want to go all-electric and this news means I can look at getting an i-MiEV in about 3 years. And not have to fork over $40,000-$50,000. Actually Mitsubishi has discussed building a hybrid Lancer GTS. That and the i-MiEV has my rapt attention like never before. Great reporting All Cars Electric! You're the best all-electric car website!!
     
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  9. By Noel Park Posted: 1/23/2010 10:49am PST

    #8 Bryan _ Well I have to agree that, at 40K, BYD is out of the game. My concern is that the 40K can go the way of Mitsu's 47K any time the PRC decides to change its trade tactics.
     
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  10. By Bryan Posted: 1/23/2010 11:02am PST

    Noel Park-and you're right on that. This is an interesting time in the all-electric market. It's somewhat fluid and competitive at the same time. Among other things. I've decided that all-electric is the best propulsion method for my automotive future, though. I'm sure on that.
     
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