Chevrolet announced the official pricing of the new Spark EV city car, and also revealed a lease plan for those who may find the $27,495 starting price – including $810 destination freight charge – a bit steep. The lease will enables you to run a Spark EV for as low as $199 per month for 36 months.

Mind you, $999 is due at lease signing including security deposit (tax, title, license dealer fees extra). With federal tax credit which ranges from $0 to $7,500 – depending on the vehicle – applied, the Spark EV can cost as low as $19,995, which is still a lot for a small hatchback.

Now, in some states like California you may also qualify for other state and local tax credits and incentives ranging from $0 to $2,500, bringing the price down to like $17,495. That is still more than an equivalent petrol-powered car, but pretty good for an electric car. Thanks to the Spark Ev’s $150 per month fuel costs – according to EPA – you are looking as at a very cheap car to run here.

Cheap it will be, but fun, it probably won’t. The Spark EV has a combined city/highway EPA estimated range of 82 miles when fully charged and an EPA-estimated combined city/highway 119 MPGe fuel economy equivalent. The price you pay for those ratings is shabby performance, limited range, and long charging time. It ain’t easy saving the plant, you know!