Toyota annouces price of electric Rav4

Toyota said Monday the electric Rav4 will cost $49,800 when it goes on sale this summer. That's more than double the starting price of the gas version. The electric version of the popular SUVwill go around 100 miles on a charge.

The electric Rav4 goes on sale in California this summer and Toyota expects to sell 2,600 over the next three years. It also widens the choices for U.S. buyers. Until now, the only electrics on the market were small cars like the Nissan Leaf and high-end sports cars from Tesla.

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