Chevrolet Spark EV Priced Below $25k After $7,500 Federal Tax Credit
November 27, 2012 2:25 PM
comment(s) - last by
Spark EV will come with an 8-year/100,000 mile battery warranty
We've talked about
Chevrolet's Spark EV for quite some time
. Over the past year, numerous details have been revealed about the vehicle. Most recently, it was revealed that the vehicle's 130hp/400 lb-ft torque electric motor was good enough to
propel it to 60 mph in less than eight seconds
Today, we've learned that General Motors has priced the vehicle at "under $25,000" when tax credits are taken into account. In other words, we're expecting that the vehicle will actually priced at $32,495 before the $7,500 federal tax credit is applied.
For comparison, the
Ford Focus Electric
are priced at $35,200 and $39,995 respectively before the $7,500 federal tax credit kicks in. Depending on where you live, the Spark EV might also quality for
state tax credits/rebates
that would knock the price down even further.
According to GM, the Spark EV features a 560-pound lithium-ion battery pack that is warrantied for 8-years/100,000 miles. This should be enough to give peace of mind to customers who plan on keeping the vehicle for more than the typical 5-year loan period.
The Spark EV will also be the first vehicle that features SAE Combo DC Fast Charging capabilities. This allows the Spark EV to reach 80 percent of its charge within 20 minutes. Getting recharging times down to reasonable levels is a critical in the adoption of electric vehicles in the U.S. and this is a much needed step in that direction.
“The Spark EV battery has undergone more than 200,000 hours of testing in our global battery systems labs,” said Pamela Fletcher, Chevrolet executive chief engineer of electrified vehicles. “It is extremely durable and has undergone the same abuse tolerance testing as the Volt battery.”
GM still hasn't provided us details on how far the Spark EV will travel on a charge, but we expect to learn more details closer to its Summer 2013 launch.
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Federal Tax Credit
11/27/2012 4:28:22 PM
You are still paying $32,495 plus any dealer markups (it's new right) then you can claim the Federal Tax Credit when you file your taxes.. In Kalifornia you can get a rebate on this car through CVRP. I don't show this clown car on the site yet.
RE: Federal Tax Credit
11/28/2012 9:21:49 PM
And if you only make $45k per year and are in a federal tax bracket where your earned income credit is less than $7500 do you actually get $7500 dollars back, or do you end up paying more than $25,000 for the car?
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