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GM drops price of Spark EV to $25,995; lease to $139/month

The drive to lower EV prices continues. GM announced today that the base model 2015 Chevy Spark EV 1LT would get a price cut to $25,995. That's $1,500 less than it used to be but the bigger news might be the lowered lease price. Instead of $199 a month, all that Chevy is asking for to get you into an all-electric Spark now is $139 a month (39 months, with no money due at signing), down from the 36-month, $199-a-month lease cost with a $999 down payment. Sadly, the number of states where the Spark EV can be bought is almost as small as the lease payment: the car is available only in California, Oregon and Maryland (well, Maryland won't be ready until the summer). GM is doing more than just lowering the MSRP. On top of the federal and state tax incentives available, GM is offering bonus cash in all three states ($1,000 in California, $1,200 in Maryland, and $3,500 in Oregon). If you're wondering why those numbers vary so much, take a look at the already-available state EV incentives in play: California offers $2,500 and Maryland $2,300. Somehow, they all balance out. If you do some addition with the $7,500 federal tax credit, you see that the Spark EV can be had for $11,000 off the MSRP no matter where you buy. If you qualify for everything, $14,995 is a darn good deal for an EV, especially one as fun as the Spark. Related Video: 2015 Chevrolet Spark EV Repriced to Offer Greater Value As low as $14,995 after full federal and state tax credits and Chevrolet Bonus Cash 2015-04-14 DETROIT – Chevrolet announced today Spark EV 1LT's new manufacturer's suggested retail price would start at $25,995. Depending on an individual's tax situation, the Spark EV is eligible for federal tax credit up to $7,500. "Chevrolet is committed to making EV driving more accessible, affordable and fun" said Steve Majoros, director of Chevrolet Car and Crossover Marketing. "The Spark EV is already the most efficient – and one of the most affordable – EVs you can buy. 2015 Spark EV customers will benefit from an impressive blend of technology, capability and low cost of ownership, now at an even more impressive price." California and Maryland Spark EV owners may also qualify for a $2,500 California state rebate or $2,300 Maryland excise tax exemption. Additional Chevrolet bonus cash is also available: $1,000 in California, $1,200 in Maryland, and $3,500 in Oregon. After full federal and state tax credits and Chevrolet bonus cash, the Spark EV could be as low as $14,995.

This 450-hp electric Lotus Evora is powered by Tesla and Chevrolet

When someone mentions an electric Lotus, the first thing that comes to mind is the Tesla Roadster, the California-based automaker's first vehicle. That car started life as an Elise before being heavily massaged and adapted by Tesla's engineers. In a similar spirit, the people at Onpoint Dyno are close to finishing Blue Lightning, a track-ready all-electric Lotus Evora. Blue Lightning uses a Tesla drive unit and a Chevrolet Volt battery pack, both mounted in the middle in place of the Evora's 3.5-liter Toyota V6. It's putting down about 450 horsepower at the wheels. The car was built for time attack sessions, so power is fed through custom forged wheels and super sticky Pirelli PZero Trofeo R tires, the same ones found on the last Chevrolet Camaro Z/28. There is a custom digital instrument cluster in place of the Lotus gauges. There's also a regen paddle on the left side of the steering wheel. With a full charge, Blue Lighting should go about 120 miles. While the car runs under its own power, it's only about 90 percent complete. It has no power steering, no firewall in between the seats and the motor and battery pack, no A/C, and a large hole where the shift lever used to be. Other final touches include fine-tuning the brakes and suspension. There is also a custom rear bumper coming that should make it look more like the new Lotus Evora 400. Onpoint Dyno expects the car to hit the track in the next month or so. Related Video:

Chevy Malibu will become 45-mpg strong hybrid with next update

Come next year there'll be no more mild hybrid pretensions for the Chevrolet Malibu - the next-generation sedan will borrow technology from the 2016 Volt and get a proper hybrid powertrain. A 1.8-liter four-cylinder engine gets help from a two-motor drive unit adapted from the Volt for 182 system horsepower, the motor drive powered by an 80-cell, 1.5-kWh lithium-ion battery. Chevrolet says that when combined with features like grille shutters and a lower ride height, it expects the Malibu Hybrid will post a combined fuel economy rating of more than 45 miles per gallon, which would best the hybrid trims of the Ford Fusion, Toyota Camry and Hyundai Sonata. Electric power alone can power the car up to 55 miles per hour, and The Bowtie's first use of exhaust gas heat recovery will help maintain high hybrid performance in cold weather and be used to heat the engine and cabin. The Malibu Hybrid should go on sale in the Spring of next year, for now there's a press release below. Chevrolet Malibu Hybrid Derives Technology from Volt GM estimates combined fuel economy ratings to exceed 45 mpg DETROIT, 2015-03-25 – Chevrolet's recent production announcement of its all-electric vehicle based on the Bolt EV concept, as well as the introduction of the 2016 Chevrolet Volt, will be joined by a strong hybrid version of the next-generation Malibu. Using technology from the 2016 Chevrolet Volt propulsion system, Malibu Hybrid will offer an estimated combined fuel economy rating exceeding 45 mpg, higher than the combined mileage ratings of the Ford Fusion, Toyota Camry and Hyundai Sonata hybrid variants. "The 2016 Malibu Hybrid will offer impressive fuel economy, exceptional driving characteristics and gorgeous styling," said Jesse Ortega, Chevrolet Malibu chief engineer. "Besides leveraging innovation from the Chevrolet Volt, the Malibu Hybrid also has unique features that help improve aerodynamics, like upper and lower grille air shutters to improve airflow and a reduced ride height, all of which help reduce fuel consumption," Ortega said. An all-new direct-injection 1.8L 4-cylinder engine mated to a two-motor drive unit slightly modified from the 2016 Chevrolet Volt drive unit powers the Malibu Hybrid. The drive unit provides additional power to assist the engine during acceleration, for 182 horsepower (136 kW) of total system power.