2014 Chevy Spark EV priced at $27,500

The 2014 Chevrolet Spark EV will have a $27,495 price tag when it goes on sale in California and Oregon next month, making it one of the best value options among all-electric vehicles.

The full $7,500 federal tax credit brings the Spark EV cost to $19,995. California Spark EV owners may also qualify for up to $2,500 in state and local tax credits, and they’re eligible for the state's carpool lane.

A low-mileage lease on the base 1LT trim is also available for $199 per month for 36 months, with $999 due at the lease signing.

After shipping charges, the 2012 Mitsubishi i-MiEV costs $29,975, while the base 2013 Nissan Leaf carries a $29,650 price tag, making the Spark the cheapest of the bunch.

Purchase pricing isn't available for other EVs slated for the U.S. market this year: the Scion iQ EV and Honda Fit EV.

The Spark EV should be a zippy urban commuter, with a 0-60-mph time of less than eight seconds. It's powered by a GM-built electric motor combined with a 560-pound lithium-ion battery pack. The system delivers 130 hp and 400 lb-ft of torque. It will also include standard Chevy MyLink infotainment system with several smartphone-based applications.

Chevrolet says the Spark EV has an 82-mile range, and returns the equivalent of 119 mpg.

A 240-volt charging cord is available that fully charges the battery in seven hours, while the standard 120-volt cord takes about twice as long.

The Spark is also compatible with a DC Fast Charging stations, which recharges 80 percent of the battery in 20 minutes.

By Angie Fisher