Mitsubishi iMiEV first plug-in

It does not plan to sell the battery-powered compacts, but will lease them to customers for $1740 a month over a three-year term. It intends to take the cars back at the end of the lease, although it could still sell them.

Mitsubishi will beat Tesla, an American electric-car start-up which also intends to have its plug-in Roadster on local roads before the end of 2010.  The first iMiEV owners will be decided early in July and Mitsubishi Motors Australia is canvassing potential owners who can help to 'co- promote' the car in Australia.

The final deal for the iMiEV was confirmed by Mitsubishi's global president, Osamu Masuko, when he visited Prime Minister Kevin Rudd, infastructure and transport minister Anthony Albansese and climate change minister Penny Wong in Canberra yesterday.  Speaking in Sydney after the meeting, Masuko said the introduction of electric cars and the rate of sales will rely on government investment and support, particularly on establishing fast-charge stations.

He stopped short of calling for cash incentives for buyers, but admitted that sales of the iMiEV in Japan and Europe have been boosted by government financial incentives. In Japan, the car sells for around $33,000 after the government incentive.

Masuko also said the price of the iMiEV will fall rapidly as production grows from 1400 a year to more than 40,000 by 2012, perhaps even halving within three years as higher volumes allow the company to cut component costs - especially on the battery pack.  "In the long term we cannot rely fully on government incentives," he said.

Masuko also used his visit to Australia to confirm two new product plans for Mitsubishi, a new baby car called 'global small' and a plug- in electric SUV which should be ready for showrooms in 2012.