Chery electric car S18 is priced under $15,000

Last week we told you about the unveiling of a new Chinese electric car.  Joining the BYD F3DM electric car already in production, Chinese automaker Chery unveiled its S18 EV.

The 4-door 5-seat car is a highway speed capable all electric car that has a 93 mile driving range, and a top speed of 75 mph.  It uses a 336 40 amp-hour lithium-ion phosphate and has a 40 kw motor.

The real amazing thing though is its price.  Per a company spokesperson, the car will be priced at $14,600.  It will be on the market in China within a year.

What is so remarkable about this pricing is that the car actually has a 13.4 kwh battery pack.  Most experts indicate the cost of a lithium-ion pack is $1000 per kwh, so clearly Chery is able to produce the packs at a significant cost advantage compared so competitors. 

And though it isn't clear if the vehicle will make in to North America, its price is a harbinger of things to come.