The 2012 Mitsubishi i is an all-new model.

For something supposedly killed back in the 1990s, the electric car is certainly exhibiting a lot of postmortem vitality. The newest spark of life for the electric car segment is the 2012 Mitsubishi i, a subcompact that Mitsubishi is positioning as the value-priced choice for an all-electric car.

By value, we're talking about a purchase price of a bit more than $20,000 once the $7,500 federal tax credit is factored in (residents of certain states qualify for other credits as well). Of course, you'll likely be springing for a 240-volt home charger as well, so there's some more expense. Still, the Nissan Leaf is the next most affordable 2012 full-electric model in the segment, and it offers a post-tax-credit starting price in the high $20Ks. The Mitsubishi i is also cheaper than plug-in hybrids like the Prius Plug-In and Chevrolet Volt.

Another plus is that this Mitsubishi i delivers a thoroughly agreeable time behind the wheel, with crisp acceleration, responsive handling and a smooth ride. Other than the muted whir of its electric motor, there's little to set it apart from any gas-only subcompact. It'll cost you less to charge the i than it would to pay for gas, but keep in mind that these potential savings take a hit in states with tiered electricity rates that increase cost as you use more juice.

One of the Mitsubishi i's primary drawbacks concerns its size. There's not a lot of in-cabin storage space, and the i offers the least amount of cargo capacity in its segment. Then there's the matter of range. With just 62 miles between no charge and a full charge, the Mitsubishi i is tethered by the shortest range in the electric-car segment. In comparison, the Leaf's range is 73 miles, while the 2013 Ford Focus Electric promises 85-100 miles.