Toyota UK announced that the Prius Plug-in Hybrid will cost under £31,000 ($47,917 at the current exchange rate) when it goes on sale in the first half of 2012.
The price of the new Prius Plug-In Hybrid does include the £5,000 government funding through the Plug-In Car Grant.
Toyota says that the pricing is competitive compared to the latest EV models on the market. By comparison, the all-electric Nissan LEAF costs £30,990 (or £25,990 when the Government subsidy is taken into account), and the plug-in hybrid Chevrolet Volt is expected to cost from £33,545 (£28,545) when it goes on sale next year.
The Prius Plug-in Hybrid allow drivers to cover more than 14 miles in EV mode, using power from its hybrid battery, after which the vehicle will seamlessly switch to power from its full hybrid system, including the 1.8-litre VVT-i petrol engine.
The convenience and efficiency of Prius Plug-in Hybrid extends to the system for recharging the lithium-ion battery. Simple connection to workplace or domestic electricity supply, or a roadside charging point, can enable a full recharge in an hour and a half.
Prior to official homologation, Toyota predicts Prius Plug-in Hybrid will emit 49g/km of carbon dioxide and achieve 134.5mpg UK combined cycle fuel economy. This strengthens its position as a strong prospect for corporate fleet operators, as it will qualify for a Benefit-in-Kind company car tax rating of just five per cent for drivers, and consequently a monthly tax burden of less than £52 (for a 40 percent tax payer, based on the guideline vehicle price).
Businesses will save on fleet costs thanks to a 100 percent write-down allowance and lower national insurance contributions.