Lexus made it official today: the first ever hybrid ES, known as ES 300h, will have a MSRP of $38,850.
This represents a difference of $2,750 over the ES 350, which carries a base MSRP of $36,100.
The ES 350 and ES 300 hybrid will arrive at dealerships in August. In both cases, the MSRP does not include a delivery, processing and handling fee of $895.
This marks the first time the Lexus ES will be available with Lexus Hybrid Drive. Featuring a 2.5-liter four-cylinder Atkinson cycle engine shared with the Camry Hybrid, the ES 300h is expected to earn EPA fuel economy ratings of approximately 40 mpg city, 39 mpg highway and 40 mpg combined. The ES 300h generates 200 total system horsepower.
The ES 300h feature a Drive Mode selector shared with its ES 350 sibling. Normal mode provides a blend of performance and efficiency that is suited to everyday driving, while Eco mode favors fuel economy. Sport mode increases powertrain and steering responsiveness. The ES 300h adds an EV mode which allows short distance drives, at reduced speed, using only the power from the hybrid battery pack.