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Chevy sets Spark EV price below 20 grand

Chevrolet announced pricing for its 2014 Spark EV electric car today at $27,495, reducible to below $20,000 after applying federal tax credits.

Chevrolet Spark EV
Chevy says that, after federal tax credits, the Spark EV can be had for less than $20,000. Wayne Cunningham/CNET

Forget pricey Teslas; Chevrolet announced pricing for its Spark EV model at $27,495. If a buyer qualifies for the full federal tax credit of $7,500, that price drops to $19,995.

The Spark EV goes on sale in June but will be limited to California and Oregon. California owners will be able to apply further credits up to $2,500. Oregon may be less friendly, as the state considers charging electric car owners a special per-mile tax.

Chevrolet's announcement also notes that dealers can offer lease deals for $199 per month, and that the Spark EV will save owners an estimated $150 per month in fuel charges.

The Spark EV is not the lowest-priced electric car hitting the market. The Smart Electric Drive goes for $25,000 before tax credits or other state incentives.

The Spark EV is based on the Chevrolet Spark, a compact car with a 1.25-liter four-cylinder engine, and a price tag of $13,745. As the Spark EV, the model gets a range of 82 miles from its 21kWh lithium ion battery pack.

Chevrolet also notes that it is designed to work with multiple DC fast-charging stations. A cabin electronics feature will help owners plot routes with charging stations as waypoints.