Toyota Prius Returns to Plug-In Market With $3,000 Price Cut

  • Prius Prime travels 25 miles per recharge in all-electric mode
  • New hybrid costs less than Chevy Volt, which has more range

Prius Prime

Photographer: John Taggart/Bloomberg

Toyota Motor Corp. said it’s returning to the plug-in hybrid market in the U.S. by lowering the price of a redesigned model to further undercut the Chevrolet Volt.

Prices for Toyota’s new plug-in, dubbed Prius Prime, will start at $27,100. That’s $3,000 less than the version the company discontinued in June 2015, Bill Fay, head of U.S. sales or the Toyota brand, told reporters at a Sept. 23 briefing. Volt prices start at $33,170, according to a General Motors Co. website.

When it goes on sale later this year, the new Prius Prime will be able to travel 25 miles (40 kilometers) between each recharging in all-electric mode, which many environmentalists consider cleaner than the gasoline engine also installed in the car. That’s still only about half the 53-mile capability for the Volt.

The discontinued version of the Toyota plug-in was able to travel only 11 miles after each recharging of its electric batteries. Toyota stopped building the old version about 15 months ago.

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