The GM Mini EV is looking to make its way into China. With a number of car companies venturing into space, China – the world’s largest population – will help boost EV sales.
GM is one of the largest manufacturers of electric vehicles. With an umbrella of companies under its name, the manufacturer is looking to shake things up.
From the Hummer EV to the Cadillac Lyriq, the company is setting itself up to take on other EV giants like Tesla. So much so that they are venturing into the Chinese market. As Tesla has already done and is making great headway, GM is launching a Mini EV as an affordable cost-efficient vehicle that can be acquired for $4,000.
‚ÄúThe sales of the Wuling Hongguang MINI EV exceeded 15,000 units within only 20 days after it hit the market at the Chengdu Motor Show that kicked off on July 24, the first mini-sized EV model whose sales reach 10,000 milestone in such a short time. Actually, its first-week sales were up to 7,346. Besides, the EV‚Äôs cumulative orders have surpassed 50,000.‚ÄĚ
The move comes amid establishing EV sales in other countries. With Europe and the US close to the industry due to COVID-19, China is looking like a decent place to sell large sums of affordable electric vehicles.
This also comes as another company, Kandi, is putting out their own “affordable” electric car. The car is looking to start at just under $10,000 and the manufacturing will be in Texas.
With every car company scrambling for their niche in the emerging EV market, many unorthodox examples are emerging.
We get it, though. If you were looking to buy an EV to save money, then you may want to take another look at how much you are saving. A basic EV right now goes for approximately $40k and up. This doesn’t help those who desperately need a change in their budgets. For the average American, they may need to wait until costs lower or a used auto market emerges.