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SAIC-GM-Wuling’s NEV Sales Top One Million, Driven by Its Best-Selling Mini EV 2022-08-12
Chinese joint venture SAIC-GM-Wuling has delivered over one million new energy vehicles in the past five years, propelled by hot sales of its popular mini electric hatchback, which accounted for 70 percent of these shipments.
NEV sales more than doubled in July from the same period last year to 60,000 units, and accounted for 41 percent of all vehicles sold, the joint venture between SAIC Motor, General Motors and Wuling Motors said on Aug. 8. In the first seven months, the JV shipped 300,000 NEVs, a year-on-year jump of 35 percent, 90 percent of which were its Mini EV.
The Wuling Hongguang Mini EV has been the most popular electric car in China for the past 22 months, the Liuzhou, southwestern Guangxi Zhuang Autonomous Region-based company said, far outstripping its other EV models such as the Baojun KiWi.
It has also been the second best-selling electric car in the world after US NEV giant Tesla’s Model 3 for two years running and the gap is narrowing, according to NEV research institute EV Volumes. Last year, 424,100 units of the Mini EV were shifted, 80,000 autos fewer than the Model 3. But in 2020, the difference was 240,000.
The two-door, four-seater vehicle’s dinky size means it can weave in and out of heavy traffic with ease and has less difficulty finding a parking space than more cumbersome cars, making it attractive to many city dwellers, market analysts said.
Despite its size, it still delivers sizeable punch, reaching speeds of up to 100 kilometers per hour with a battery range of 170 km and comes with luxuries such as air conditioning and power steering, all for a price tag of under CNY100,000 (USD14,841), according to a report by Sealand Securities.
SAIC-GM-Wuling launched its first model overseas, the Wuling Air EV, in Jakarta on June 1 and this will be rolled out to global markets soon. The Mini EV’s cabriolet version should also come out soon, which will further contribute to its sales volume.
NEVs are now starting to replace fossil fuel-powered autos, market insiders said. And NEV manufacturers such as BYD, Tesla, SAIC-GM-Wuling and Nio have all seen a big jump in sales.
Source: Yicai
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