The all-new Fortwo electric drive will start $1,200 below the outgoing model.

Mercedes-Benz has announced US pricing details for the 2017 Smart Fortwo electric drive.The diminutive electric coupe will start at just $24,550 (including $750 freight) when it arrives in showrooms, representing a savings of $1,200 compared to the outgoing model.

Opting for the open-air Fortwo electric drive cabrio edition brings the price up to $28,750. It is expected to be the only all-electric convertible on the market at launch.

The redesigned Fortwo EV features a more powerful electric motor, delivering 118 pound-feet of torque for a zero-to-60 mph sprint in 11.4 seconds (coupe) or 11.7 seconds (cabrio). The extra power helps push both to a maximum speed of 81 mph.

The 2017 edition also benefits from a revised charging system. If the car is plugged into a high-output 240-volt circuit, the battery can be charged to 80 percent in just 2.5 hours.

"The electric drive has an estimated range of approximately 70-80 miles - ideal for emission-free mobility in urban areas," the company says.

The statement suggests the revamped electric drive system will offer a tangible range improvement over the current edition's 68-mile EPA rating, despite its cheaper price tag.

The new generation is slated to arrive in US showrooms this summer.