Smart ForTwo Electric Drive Can Cost Under $15,000

Smart ForTwo Electric Drive Can Cost Under $15,000

Smart just announced pricing for its ForTwo Electric Drive, making it the cheapest electric car on the market today at $25,825

Of course, that price doesn’t figure in the $7,500 federal tax credit. Further complicating things, a home charging units can cost as much as $2,200 — although it really doesn’t need to. After tax credits, delivery, a home charging unit and a quick breather for some math, the car will end up costing about $20,550 assuming you splurge on the “Cadillac” of power spigots.

That price can dip even lower for people living in certain states. For example, Colorado residents can also collect another $6,000 in incentives from the state government. Sucking the extra six grand out of the Smart ForTwo ED’s price brings it down to $14,550 including the cost for a home charger and its installation.

Much like the Sion iQ EV it would compete most directly against, Smart didn’t sacrifice any interior space to fit its battery pack in the car. The previous generation, which Smart built in a limited run as a test fleet, offered a 63 mile range. Numbers for the current vehicle haven’t been released yet but are likely to be in the same ballpark.

Finally, a cabriolet model will also be available at a $3,000 premium to the hard top version.

GALLERY: 2013 Smart ForTwo ED