Chrysler today revealed pricing for its new HEMI-powered hybrid SUVs, also boasting that its new prices will undercut the competition by as much as $8,000 on some models. The sticker price for a new 2009 Dodge Durango HEMI Hybrid (pictured) is $45,340, including $800 for destination, while the price of the 2009 Chrysler Aspen HEMI Hybrid is $45,570, including $800 for destination. However, customers are expected to receive an estimated tax credit of $1,800.

GM's comparable Chevrolet Tahoe hybrid, meanwhile, starts at $50,490 and its GMC Yukon starts at $50,945. Both the Chrysler and GM models use the same two-mode hybrid system developed in a partnership along with Germany’s Daimler and BMW.

The two hybrid SUVs are Chrysler’s first entries in the hybrid market and offer a 25% improvement in mileage compared with the regular petrol versions. The vehicles are still fully capable of towing up to 6,000lbs but are expected to save hundreds of gallons of fuel per year for the average motorist.

Both models feature a 5.7L HEMI V8 with cylinder-deactivation technology and develop a peak output of 385hp (287kW) and 380lb-ft (515Nm) of torque when coupled to the advanced two-mode hybrid system.