One of the longest-running electric vehicle models in the United States is offering a price cut to bring the vehicle below the $20,000 threshold with tax credits.
What Happened: The 2022 Nissan LEAF S from Nissan Motor NSANY got a price slash, according to Electrek.
The 2022 Nissan LEAF S will be sold with a MSRP of $27,400. Nissan still qualifies for the full $7,500 federal tax credit, making the after-credit cost of the vehicle $19,900.
The Nissan LEAF is one of the longest-running electric vehicle models, dating back to 2010. Prior to the Tesla Model 3 from Tesla Inc TSLA, the LEAF was the bestselling electric vehicle model in the U.S.
The 2021 Nissan LEAF had a MSRP of $31,000 before federal tax credits.
Related Link: Fisker Shares Rally On $30,000 EV Partnership With FoxConn
Why It’s Important: Having a vehicle under the $20,000 price marks an important milestone for electric vehicles and could bring new customers to Nissan.
The vehicle does have lower mileage than other electric vehicles, which could be the trade-off for the lower price.
Other rivals like Tesla are working on a cheaper mass production electric vehicle. Tesla is rumored to be releasing a $25,000 electric vehicle in China.
Nissan has relied on the LEAF as its electric vehicle model for years and has announced plans to introduce more electric models in the future.
The Ariya electric SUV will be the newest model from Nissan.
Investors could see Nissan gain share in the electric vehicle market with the new, lower-priced LEAF model.
Photo: the Nissan Leaf.
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