First, the good news - drivers of electric cars will pay no company car tax for five years from next month.
The bad news? Mitsubishi has just announced the price of its new i-MiEV electric city car, and it's an eye-watering £38,699.
Even with the £5000 government discount, that still means that the tiny Mitsubishi will cost £33,699, putting it out of reach of many company car drivers whose choice of car is dictated by a range of issues which includes the list price.
Mitsubishi defends the price, saying that new technology always comes with a premium, but for the same money a company car driver faces a wide choice of cars: BMW 530d, Mercedes-Benz E-Class 350CDI or even a Porsche Cayman, to name three.
Of course, the electric Mitsubishi has advantages, including:
- 96 pence for a full charge which will last up to a maximum of 80 miles
- Exemption from road tax
- No company car tax
- Exemption from the London congestion charge
- Free parking in many London boroughs
Other vital statistics for the i-MiEV include zero exhaust emissions, a top speed of 81mph and 12,500-mile service intervals. It is also covered by a three-year warranty.
Mitsubishi is the first manufacturer to announce pricing for its electric vehicles. Currently the only other conventional electric car on the market is the Citroen C1 ev'ie which is built by the Electric Car Corporation and costs from £19,860.