"Marketed as 'commuting tool,' Hong Guang Mini outsells the Tesla Model 3
The Hong Guang Mini EV's convenience and low price have made it one of China's bestselling "new-energy" vehicles.
... the Wuling Hong Guang Mini EV, an electric car that has quickly won over Chinese drivers since its nationwide launch in July.
The boxy compact lives up to its name, measuring less than 3-meters long and 1.5-meters wide, yet can still accommodate four people.
The price starts at 28,800 yuan ($4,460), though the most popular model, with air conditioning, goes for just over $5,000.
... the Hong Guang Mini lags well behind offerings from the likes of Tesla when it comes to range and performance, its convenience and low price have made it one of China's bestselling "new-energy" vehicles, a category that includes electrics and plug-in hybrids.
The compact has been a big hit for state-owned SAIC Motor, China's top automaker.
SAIC holds a majority stake in SAIC-GM-Wuling, the joint venture that produces and sells the car and is known locally as Wuling, and General Motors is a major shareholder as well.
Marketed as "the people's commuting tool," the basic model can travel 120 km on a full charge and has a top speed of 100 kph -- good enough for day-to-day driving for most consumers.
It does not use a cutting-edge battery, which helps keep the price down, and it can conveniently be charged from a standard outlet.
The car sold 112,000 units between July and the end of 2020, ranking second for the year behind Tesla's Model 3, but first on a monthly basis.
It is also believed to be the second-best-selling electric model worldwide, again behind only the Model 3.
... Wuling said last August that it plans to export the Hong Guang Mini, and media reports indicate that it has partnered with a Latvian automaker to sell a version of the car in Europe, though the price is reportedly set to be twice as high due to Europe's environmental requirements."
" ... SAIC-GM-Wuling's new $4,460 EV could wind up being a Tesla-killer in China.
... The EV can be operated without a license, but cannot be driven on highways.
But that has just increased its embrace in third tier cities, where more than 60% of its sales take place.
... One thing is for certain: there is no lack of EV competition in China:
Nio has more than doubled its unit sales, putting the company eighth in new-energy vehicle sales last year, up from 13th place. Li Auto multiplied its unit sales 25 times to reach 10th place.
Altogether, China's five largest EV startups, including WM Motor and Xpeng, expanded unit sales by 150% last year.
And while Tesla has tripled sales in China over the last year, we have documented signs that the fairy tale between Elon Musk and the Chinese government could very well be coming to an end."