Chinese budget EV, the Hong Guang Mini, developed by SAIC Motor has become the second bestselling EV in China (and the world according to estimates) following Tesla. Last month in China, sales of the Hong Guang Mini (priced at USD $4,500) were nearly double that of the Tesla Model 3. SAIC Motor sold 25,778 Hong Guang Minis, while Tesla sold 13,848 Model 3s. China is Tesla’s largest market after the US accounting for 20% of their total revenues.
Zoom In: The four-seat vehicle can reach a top speed of 100km/h (62 mph) and can travel up to 120 miles on a single charge. SAIC Motor is a Chinese state-owned automaker. The Hong Guang Mini is developed as a joint venture between SAIC Motor, Liuzhou Wuling Motors, and General Motors (GM).
