Mitsubishi Aims to Cut i-MiEV Costs

Mitsubishi Motors Corp., the maker of the i MiEV electric car, plans to cut the vehicle’s purchase price by more than half to less than 2 million yen ($21,000) as government incentives and tighter emission rules boost demand for fuel-efficient cars.
According to Bloomberg, the company will cut the i MiEV’s price tag by the “mid- 2010s,” President Osamu Masuko said at the company’s annual shareholders’ meeting in Tokyo. The price target includes tax breaks and subsidies from the government, he added. The carmaker will start selling the i MiEV in July for 4.6 million yen.