General Motors' Opel division has confirmed that it has pulled the plug on the all-electric version of its new Adam city car.
Aimed exclusively at the European market, the electric Adam was scheduled to make its debut next year and use the same drivetrain that will be found under the hood of the upcoming Chevrolet Spark EV.
Opel built several road-ready prototypes but it ultimately failed to make a business case for the car because its base price would have been too high.
"[Canceling the project] was a business decision," said Opel's chief engineer for the Adam, Dieter Metz, in an interview with Automotive News. "We could not charge the customer the price needed to make it work on the cost side."
Electric vehicles have failed to meet sales expectations on the depressed European market because of their relatively high price and the technology's lack of support from both the European Union and national governments.
Opel is not the only European manufacturer to pull the plug on an EV: Audi recently made a similar decision when it canceled the all-electric R8 e-tron in favor of a plug-in hybrid version.