Just as the sustainability of the electric car business is being questioned by many, the new Honda Fit EV plug-in electric vehicle has arrived on the market. It is the first eco-friendly electric car from Honda, and joins a lineup of cars from a number of manufacturers that will debut this year.
The first electric Fit was delivered to a Honda dealer in Torrance, CA on January 20, and will be available in additional cities across the United States into the summer. Interestingly, Honda will make the electric car available only for lease initially, with sales to follow later in the year. The Fit EV is expected to lease for approximately $399 per month.
“This is an exciting day as we take another important step toward Honda’s comprehensive vision for reducing CO2 emissions,” said Steve Center. “Honda has a long history with electric vehicles starting with the introduction of our first battery-electric car, the EV Plus, nearly 15 years ago. With Honda’s extensive experience and the real-world feedback from the city of Torrance, we will be even more prepared for the further customer adoption of electric vehicles.”
Honda says the Fit EV will have a range of 76 miles, and can be recharged by plugging it in to a traditional 240-volt outlet for three hours.
The debut of the Fit EV comes as many are questioning the viability of the electric vehicle market. The much-heralded Chevy Volt and Nissan Leaf debuted to disappointing sales in 2011, with just 18,000 sold between the two models. General Motors has also been dealing with the fallout of a recall of all Volts following reports of fires associated with its lithium-ion battery.
Like many of the new generation of electric cars, the Fit EV – with a suggested retail price above $36,000 – will come equipped with smart technology like navigation, telemetrics and the ability to manage service like charging schedules via mobile smartphones.
Despite lower-than-expected sales for the Volt and the Leaf, automakers will roll out additional electric vehicles later in 2012. Ford is expected to debut its Ford Focus Electric, while Toyota is introducing a plug-in version of its venerable Prius.
“Electric vehicles are still in their infancy, and while we’ve seen some recent model introductions, consumer demand has so far been modest,” says Gary Silberg, National Automotive Industry leader for the financial analyst firm KPMG. “We can expect no more than modest demand in the foreseeable future.”
Despite the doubts, Honda is betting that the electric vehicle market will not just survive, but thrive. The Fit EV is the first evidence of that expensive wager on plug-in electric cars.