Chevy Spark EV Price Is $27,495 Before Incentives!

The 2014 Chevrolet Spark EV has undercut the prices of the rest of the electric vehicles on the market. At $27,495 without the federal tax credit (which is up to $7,500), it’s a real steal.

When the tax credit is factored in, you can purchase the car for $19,995, a very reasonable price. The California state tax rebate (and those in some other places) can provide an additional savings of up to $2,500, reducing the vehicle’s price to as little as $17,495!

I think the fact that it is the cheapest electric vehicle that seats at least four people on the market, and that it charges the fastest (in 20 minutes, to 80% of its capacity), makes it a real consumer contender. It also accelerates from 0-60 MPH in 7.6 seconds, which is considered “peppy,” faster than most cars.

Apart from that, it travels 82 miles per charge and achieves an efficiency of 119 MPGe (Miles Per Gallon Equivalent) with its 21 kWh lithium-ion battery bank.

Has Chevy pulled off another Volt? The Volt set the bar higher for plug-in electric vehicles with its generous interior room and its range extender, which enables it to drive anywhere on gas or electricity.

“The Chevrolet Spark EV is the most efficient – and now one of the most affordable — EVs you can buy,” said Chris Perry, vice president of Chevrolet Marketing, in a press release yesterday. “Combined with outstanding infotainment and great design, the fun-to-drive Spark EV is engineered to impress.”

GM backs the Chevy Spark’s battery with an 8-year, 100,000-mile warranty.

On its website, Chevy pointed out some of the important advantages of electric vehicles, such as the lack of a transmission — at most, an electric vehicle will contain a single reduction gear to boost overall torque. Gasoline-engines actually use conventional transmissions to mimic the torque curve which is innate to electric motors.

I think GM and Chevrolet have a win here. What do you think? Will it take over the Leaf’s top spot?