EV pricing: Mitsubishi's electric car economics

How can this cost $51,000?

The Mitsubish i-MiEV is a terribly unimpressive car, at least in terms of body design, styling and comfort. The few times I've been in the 100 mile EV, I've wondered why anyone would buy such a vehicle for more than $20,000.

Yet, the i-MiEV costs $51,000. By 2012, Mitsubishi hopes to sell 30,000 i-MiEVs per year, but aren't such numbers completely unrealistic? For instance, why buy an i-MiEV when the Nissan Leaf or the the Chevy Volt will cost significantly less, while offering more?

And that makes me wonder, is Mitsubishi incompetent in either engineering or finance? Is their EV technology just that much more expensive than the competition? Are big profit margins a mandatory requirement?

How is it the Nissan Leaf might sell for $30,000 while the i-MiEV sells for $50,000?

Mitsubishi adds plug-in hybrid to plug-in portfolio

EVs and PHEVs

Mitsubishi has now added plans to develop plug-in hybrid vehicles in addition to its previously stated plans to develop electric vehicles such as the iMiev according to GCC.

"The development of a plug-in hybrid comes on the heels of the auto maker’s plan to launch a mass-produced electric vehicle [the iMiEV] next year in Japan... Masuko noted that the plug-in hybrid will be better suited for longer distances than the electric car."

2000 iMiEVs in 2009

10,000 per year "shortly afterward"

Mitsubishi is building a new factory for the lithium batteries that will power the iMiEV, an electric vehicle. "The lithium-ion battery for the car will be produced by Lithium Energy Japan, a subsidiary of Japan's biggest battery maker, GS Yuasa Corp., at a newly acquired site in Shiga in western Japan, according to reports.

By mid-2009, Mitsubishi is hoping to build as many as 2,000 iMiEVs for fleet sales and general sales in 2010. "Shortly afterward" Mitsubishi is hoping to lift production to 10,000 units per year.

The 2009 Mitsubishi i-MiEV is reality

Mitsubishi confirms plans to produce this in-wheel electric-motored vehicle

In 2009 Mitsubishi will launch the i MiEV Sport, an in-wheel electric vehicle that places two electric motors in the front wheels that produce 20 kW. These two motors, which create about 27 hp, are coupled with a larger 47 kW motor that powers the real wheels and adds an additional 63 hp. All the motors are powered by a lithium ion battery pack that provides 124 miles per charge.

This Sport and its electronically controlled motors should enable varied torque between the wheels to optimize cornering, providing Sporty handling - in addition to electric drive quickness.

At only 124 miles per charge, the i MiEV's limited range is a little disappointing, but the vehicle could still be a hit, especially in large urban areas. With its quirk-ish looks and sporty performance, this vehicle might also be a hit with the younger crowd, dependent upon price.

While Mitsubishi has confirmed a production date of 2009, the company has not provided details on where the i MiEV will be sold.