Home Entrepreneur Tesla is selling well in China with this $ 4,500 car

Tesla is selling well in China with this $ 4,500 car

Cheap electric cars from China are becoming a hot selling item in the country with the largest population in the world.

April 23, 2021

2 minutes of reading

Electric vehicle manufacturer Tesla is facing stiff competition from a budget-friendly automaker in Tesla’s second largest market, according to BBC.

While Elon Musk’s company maintains a sizeable share of the electric vehicle market with the popularity of the Model 3, state-owned SAIC Motor’s $ 4,500 car is outperforming the Model 3. with two to one.

Related: Tesla is facing a tough competitor in the electric car market

Called Hong Quang Mini EVThe two-door sedan appears to use a 9.2 kWh battery that will allow it to run for 75 miles. It also has a single electric motor that makes 17.4 hp and a top speed of 62 miles per hour.

As BBC Note, the vehicle is the product of a joint venture between SAIC Motor and General Motors. In the second half of last year, sales were 112,000 and 25,778 models in January this year, respectively. Those numbers alone show that the Hong Guang Mini EV is currently the second best-selling electric vehicle worldwide after the Model 3.

However, Tesla, has cut costs for its Model 3 in China to $ 39,000, doing well in China, BBC add. Last year, the company more than doubled domestic consumption.



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