2014 Chevy Spark electric to cost 38 percent less than Volt, GM says

General Motors will price the 2014 Chevrolet Spark General Motors will price the 2014 Chevrolet Spark electric vehicle to sell for $19,995 after accounting for the federal tax credit of $7,500. Photo Credit: General Motors

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DETROIT - The Chevrolet Spark all-electric subcompact car will cost U.S. buyers as much as 38 percent less than what it takes to buy its larger sibling, the hybrid Volt, General Motors Co said on Thursday.

The 2014 Spark EV, which goes on sale next month inCalifornia and Oregon, will sell for as low as $19,995 afteraccounting for the full federal tax credit of $7,500, GM said.The larger Chevy Volt, which was introduced in the fall of 2010,sells for about $32,500 after the tax credit.

"The Chevrolet Spark EV is the most efficient - and now oneof the most affordable - EVs you can buy," Chris Perry, GMsvice president of Chevrolet marketing, said in a statement.

GM has made rolling out cars with electrical technology including its eAssist system that boosts fuel efficiency ingasoline-powered cars as a central part of its globalstrategy.

The U.S. automaker is aiming by 2017 to build up to 500,000vehicles a year that include some form of electric engine power,including cars like the Spark EV, the Volt and those witheAssist. GM will begin building the Cadillac ELR plug-inelectric coupe late this year.

The rollout of the Spark EV continues GMs push to seize themantle of "greenest automaker in the world" from Toyota MotorCorp., which makes the popular Prius hybrid car. Toyotaalso sells a plug-in version of the Prius.
California Spark EV owners also could qualify for anadditional $2,500 in state tax credits and incentives, GM said.

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The car will lease for as low as $199 a month for 36 months with$999 due at signing.

GM previously said the Spark EV will be able to travel twiceas far on an electric charge as the plug-in hybrid Volt can gobefore its gas engine kicks in.

The Spark EV has a combined city/highway range of 82 mileswhen fully charged as estimated by the U.S. EnvironmentalProtection Agency. The Volt gets about 40 miles on an electriccharge. The Spark EVs fuel economy is equivalent to 119 milesper gallon on an EPA-estimated combined city/highway basis.

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