Leapmotor has just announced it is slashing the price of the T03 electric hatchback to just £12,995, reducing its full price point by £3,000. This doesn’t just make it the cheapest EV on sale in the UK, but it also makes it the cheapest five-seat passenger car bar none. Technically speaking, this is not a permanent price reduction, rather a doubling of the £1,500 price reduction Leapmotor applied to its T03 to match the UK Government’s Electric Car Grant. However, this technicality makes no difference to consumers. We feel it might just disappoint some who have recently taken the plunge and bought a T03 at the retail price. This new price point also sees the city car undercut its key rival, the Dacia Spring, doing so to the tune of just under £3,000. It is also ahead in terms of range with a 165-mile maximum and standard equipment. The kit list includes a panoramic sunroof, active cruise control, LED headlights, a rear parking camera, alloy wheels and keyless start, none of which are offered on the Dacia. While the T03 is not a firm favourite here at Auto Express, for just £12,995 it does make a case for itself in terms of pure value. The last time the average price for a new car sat under that figure was in 1988. In the here and now such a low price represents incredible value, and could signal a price war that might erupt in the UK market, especially among the new Chinese companies trying to establish a foothold. The new discount will apply to all models purchased after the 1st of July and isn’t limited in terms of numbers. But the ball is now firmly in Dacia’s court, and only time will tell if the budget brand is willing or able to swing things back in its favour with a hefty discount on the Spring.
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