(Bloomberg) -- Toyota Motor Corp. said it's returning to the plug-in hybrid market in the U.S. by lowering the price of a redesigned model to further undercut the Chevrolet Volt.
Prices for Toyota's new plug-in, dubbed Prius Prime, will start at $27,100. That's $3,000 less than the version the company discontinued in June 2015, Bill Fay, head of U.S. sales or the Toyota brand, told reporters at a Sept. 23 briefing. Volt prices start at $33,170, according to a General Motors Co. website.
When it goes on sale later this year, the new Prius Prime will be able to travel 25 miles (40 kilometers) between each recharging in all-electric mode, which many environmentalists consider cleaner than the gasoline engine also installed in the car. That's still only about half the 53-mile capability for the Volt.
The discontinued version of the Toyota plug-in was able to travel only 11 miles after each recharging of its electric batteries. Toyota stopped building the old version about 15 months ago.
To contact the reporter on this story: John Lippert in Chicago at jlippert@bloomberg.net.
To contact the editors responsible for this story: Kevin Miller at kmiller@bloomberg.net, John Lear
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