Chevrolet is entering a cold war with Nissan over their electric cars. After the Japanese car maker reduced the price of its LEAF and drove a lot of business away from the Volt, Chevy is now retaliating by cutting a full $5,000 off of the 2014 Volt’s MSRP. The real winner of this war is, of course, the customer.

So the 2014 Chevrolet Volt now has a base price of $34,995, including an $810 destination fee. But it gets better. You see, the Volt is fully eligible for federal tax credits ranging from $0-$7,500 (depending on individual tax liability). So you could drive away in a brand-new Volt for as little as $27,495.

That is still dear for a car of Volt’s proportion and performance, but compared to the other available EVs, it’s pretty good. With this price cut the Volt is back in the game, giving the uglier, smaller, and less convenient LEAF a good run for its money.

The Volt is more attractive than the Nissan, not just because of its appearance, but because of the fact that it has a range-extender engine. You won’t suffer from range anxiety in this car, and thanks to an average 98 eMPG, you can travel a whopping 900 miles between fill-ups. No wonder then the car has already logged 364 million miles, including 225 million electric miles.

The only question is, how on earth GM is going to make any money selling the Volt at that price?!