Tesla’s Nemesis in China Is a Tiny $5,000 Electric Car From GM
- SAIC-GM-Wuling’s Hongguang MINI EV has been a runaway hit
- The EV outsold Tesla in August in world’s biggest car market
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Known globally for its trucks and muscle cars, General Motors Co. has scored a surprise hit in China with its local partners: a petite electric vehicle that sells for less than $5,000.
The Hongguang MINI EV, made by SAIC-GM-Wuling Automobile Co., is currently the hottest EV in China, the world’s biggest automobile market. Sales of the compact four-seater beat industry giant Tesla Inc. in August, with consumers wowed by its tiny price tag -- the EV retails for between 28,800 yuan ($4,230) and 38,800 yuan -- and its ability to run for as many as 170 kilometers (106 miles) on a single charge. Orders exceeded 30,000 units in just 50 days.