Nissan's electric car to cost less than $32K in US

NEW YORK — Nissan Motor Co. says its Leaf electric car will cost $32,780 when it goes on sale in the U.S. at the end of the year, an amount that could drive down prices on similar cars made by competitors.

The price of the four-door hatchback falls to $25,280 after a $7,500 federal tax credit for electric vehicles.

The rival Chevrolet Volt is expected to cost around $35,000 when it comes out around the same time. It's also eligible for the tax credit.

Nissan says the Leaf will cost 3.76 million yen ($40,000) in Japan. Nissan will price the car for less in the U.S. because it wants to sell more of them in that market and is confident it can still make money at that price.

Orders in the U.S. start April 20 and Nissan is aiming for 25,000 orders by December.