Here's What the Electric Mini Cooper's Price Means for the Future of EVs
BMW (OTC: BAMXF) recently announced the pricing for the first mass-market all-electric vehicle in its Mini brand of premium compact cars. The 2020 Mini Cooper SE will arrive at U.S. dealers in March 2020, with an MSRP of $29,900 (plus an $850 destination fee). That's the price before any tax credits kick in. According to Mini, the price of the electric hatchback could get as low as $17,900 with federal, state, and local incentives if you live in an area that's especially encouraging of electric vehicles.
The Mini Cooper SE looks, well, like a Mini Cooper, and the untrained eye might not even notice that it's electric. It does have a few design cues giving away its electric powertrain, like a distinct asymmetrical wheel design specific to the SE model, a blocked-off grille, and, of course, special emblems indicating that it's electric. The fact that BMW didn't get too risky with the design is a good thing since the look of the Mini Cooper is distinct and recognizable, so when you see one of these on the road there will be no mistaking what brand it came from. The Mini Cooper SE will maintain Mini's fun-to-drive reputation, with its electric motor providing 181 horsepower and 199 lb-ft of torque with a 0-60 mph time of 6.9 seconds. Mini's range estimate for the Cooper SE is 146-168 miles (there is no official range from the EPA as of this writing) and its battery can achieve a 100% AC charge in just four hours.
So, how does the price of the Mini Cooper SE compare to the price of some of its competitors? Like the regular gas-powered Mini Cooper, the new electric version doesn't have a whole lot of direct competitors since it's such a unique car. What we can compare it to is the Nissan Leaf, the oldest name on the market in BEVs (battery electric vehicles). The Leaf is a bigger hatchback with fewer premium features at the base level, and has a 150-mile range and a starting MSRP of $29,990 for the standard model; $36,550 for the longer-range (226 miles) Leaf Plus. The Chevy Bolt EV is similar in size, range (238 miles), and features to the Leaf Plus, and it's priced similarly, starting at $36,620. Tesla's Model 3 is a premium electric compact sedan that starts at $35,000, with its range starting at 250 miles in the base model and going up to 322 miles in the long-range model. The Model 3 and Mini Cooper SE are similar in standard features (navigation, heated front seats, etc.) but compete in different classes since the Mini is a subcompact hatchback and quite a bit smaller than the Tesla.
Source Fool.com
