Nissan to take orders for its 3.76 million yen-priced ‘all-electric’ Leaf from April 1

Nissan to take orders for its 3.76 million yen-priced ‘all-electric’ Leaf from A

In a Tuesday announcement, Japan's third-ranking auto-maker Nissan Motor Co. revealed that it will commence taking domestic orders for its 'all-electric' Leaf hatchback from April 1; and will begin selling the electric car in December this year.

Nissan said that the Leaf will be priced at 3.76 million yen which, after accounting for electric vehicles-related subsidies by the Japanese government, will come at a slashed net cost of about 2.99 million yen to customers.

Though Nissan - 44 percent-owned by France's Renault SA - has yet to announce the Leaf's price-tags for the US and Europe, the cost of the vehicle in Japan is higher than Toyota Motor's third-generation gasoline-electric Prius hybrid, the base model of which is priced slightly above 2 million yen in the country.

While Nissan remains committed to make Leaf cost-competitive with its gasoline-powered counterparts, the initial pricing of the car essentially represents a premium over the current combustion-engine powered small sedans, like the Honda Civic and Toyota Corolla, largely because of the cost involved in the development and production of the lithium-ion battery pack of the Leaf.

Despite the fact that the cost of batteries and the notably higher upfront payment for fuel-saving technology largely stand in the way of mass-market adoption of electric vehicles, Nissan is of the opinion that, by 2020, electric vehicles will comprise nearly 10 percent of the world's auto market.