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Automobiles

EV price war to heat up as Mitsubishi readies sub-$18,000 car

Cheaper batteries and subsidies put electrics within reach for more customers

A Volkswagen E-Golf electric vehicle. The automaker is just one around the world that is driving down the price of the eco-friendly vehicles.   © Reuters

TOKYO -- The global battle to offer affordable electric vehicles will soon grow more intense as automakers in Japan and Europe prepare to offer cheaper models that can compete with Chinese rivals.

Mitsubishi Motors will offer an electric mini-vehicle for under 2 million yen ($18,100) in Japan by fiscal 2023, joining the growing ranks of automakers pursuing lower prices to catch up with cheaper Chinese EV rivals.

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