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Mysterious Startups Claim To Be Able To Compete With Tesla Model 3

2 weeks ago by Eric Loveday 26

Singulato Electric Concept Car

Several electric vehicles startups in China are targeting the Tesla Model 3.

These new automakers are so obscure that even we know little about them, but they aim to go head-to-head against the Model 3, apparently.

Future Mobility, WM Motor and Singulato Motors all say the’ll produce electric cars in the next year or two that will beat the Model 3’s price, while being competitive in other important areas.

WM Motors EV Rendering

Reuters states:

“The founders and CEOs of Future Mobility, WM Motor and Singulato acknowledge the Model 3 is the car to beat.”

“The first vehicles they aim to launch in the next couple of years will be priced around 300,000 yuan (roughly $43,500) or below, they told Reuters ahead of the Shanghai auto show, which opens to the public on Friday.”

Teslas get hit with an import tariff in China since they aren’t locally produced. The 3 automakers listed above will avoid the tariff by producing their electric vehicles within China.

Daniel Kirchert, president and co-founder of Future Mobility, made several comments on pricing:

“…to achieve this very attractive entry price of about 300,000 yuan.”

“It’s a bit more than $40,000, a very competitive price positioning … because Tesla customers buying the Model 3 in China would have to shoulder the cost of a 25 percent import tariff on the car.”

“We will be competitive because we produce the car locally.”

Much of the talk is on price, an area in which we’re relatively certain these automakers can beat Tesla. But our doubts lie in the ability of these startups to come through in regards to quality, performance, reliability etc.

There are some grand plans though, some of which are outlined by Reuters below:

As well as making its car in China, at a planned assembly plant in Nanjing, Kirchert said Future Mobility plans to make the SUV bigger than the Model 3 and more luxurious.

Singulato Motors unveiled its first “mass-production” car, also a crossover SUV, in Beijing last week, and says it will be priced below 300,000 yuan. It has started taking pre-orders for a limited period from customers willing to put down a deposit of 2,017 yuan.

WM Motor plans to launch its first car, an electric plug-in crossover SUV, in the second half of 2018, again priced to compete with the Model 3, co-founder Freeman Shen told Reuters.

The car will be the first of three electric vehicles the Shanghai-based firm plans to launch by 2020, by which time Shen says WM Motor should be selling around 100,000 cars a year.

We shall see how all this pans out soon enough.

Source: Reuters

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26 responses to "Mysterious Startups Claim To Be Able To Compete With Tesla Model 3"

  1. pjwood1 says:

    Goes to show that it “snows” in every market.

  2. Omicron says:

    Elon Musk is probably going to be delighted to hear this. It’s exactly what he’s always wanted: accelerating the transition to sustainable energy. The more companies trying to beat him at this game, the better.

    Even if these three only sell in China – that’s still the single biggest national car market on the planet.

  3. Seuthès says:

    “Claim” is easy, “Do it” is harder.
    Even BMW has stop to be blind, they move to the real project to compete with Tesla. The Model 3 drives every automakers crazy.
    Stop claims and shows us the real thing !

  4. Someone out there says:

    Why do they have to make them look so extraordinary to the point of looking ridiculous? A ton of different vents, complicated light fixtures, doors that open in peculiar ways, special wheels and whatnot. Just make a simple, regular car thank you. Less is more.

  5. ffbj says:

    In the year 2020, if we are still alive, we may find… more Chinese evs
    https://www.youtube.com/watch?v=zKQfxi8V5FA

  6. ffbj says:

    TSLA, again closing in on it’s recent all time high of $322 & some change, at $318.24.
    Shorts getting whipped like a red-headed step child, again.
    The stock is a Juggernaut!
    In other words, it can’t be stopped.

    1. James says:

      They should call the Tesla pickup truck the Juggernaut!

      🙂

  7. Chris O says:

    Tesla must have made it look easy. The early Chinese copycats Faraday Future and Lucid motors are already finding out it’s actually not…

  8. KevinZ says:

    By the time auto makers come out with a Tesla 3 competitor, Tesla will be on to the next generation Model 3.

  9. Everybody can build decent EVs nowadays, can’t they?

  10. Good to hear – it means that the world has noticed electric cars. And Elon Musk is having the influence that he had hoped for by starting Tesla.

  11. EV4Life says:

    are chinese cars any safer than they used to be? Previous imports have tended to fail crash tests pretty miserably

    1. William says:

      GM makes a decent non-EV, that is imported to the States from China.The crash test rating is on par with most of their other offerings. The Chinese made Buick Envision, is an ICE SUV available in the USA, for more than 6 months now.

      1. Kuk says:

        One Cadillac model is made only in China and imported in US.

    2. Steven says:

      The “Chinese Crap” mantra is outdated. China can and does build anything just as well as anyone else. The idea that “made in USA” is inherently better than “made in China” is patently false. Chinese manufactured goods TENDS TO BE lower quality, but that’s because the company procuring those goods (usually an American company) is only willing to pay for lower quality. I get parts manufactured in China regularly and I can certainly get stuff made just as high quality as I can in the US. But it costs more than getting lower quality, so you find the balance. People that run dollar stores get the worst lowest quality (lowest price) crap they can. China is willing to product exactly what we’re willing to pay for. So we pay for crap, we get crap. It is our insatiable appetite for low priced goods that produces low quality items, not some inherent “China is crap”.

      1. EV4Life says:

        I didn’t say that they were crap – but the examples of GM products that were made in China are not the same at all. Not Chinese designs, they are GM cars that GM built in China. In this case the “usually American” company is the one showing that it can be done – but it ain’t cheap.

        The majority of the cheap cars don’t get exported, so how can the alleged “usually American” company be responsible for those?

        The “good enough” car originated in China’s home market, not the export market without a “usually American” influence.
        Most home market cars cannot be exported because they don’t meet any international safety standards – and many that do make it out get ratings like the 2014 truck which “earned” a safety score of 0 – yes, zero. Or the SUV that got to Britain only be declared to unsafe to drive.

        The so called Tesla killers aren’t going to make it out of the country, read the quotes from the execs. They will only be selling these to the home market where they can undercut outsiders by not bothering with all that expensive safety and technology gear.

  12. spinner says:

    EV’s are easier to build but all the other issues of mass manufacturing, branding, servicing network and so on are same so I think they have a chance but it’s not easy and Tesla have already proven they can deliver, not on their own schedule but in the end they have come up with the goods.

  13. James says:

    Ah, watching the outpouring of, “We can beat Tesla!” statements worldwide is amazing.

    The disruptor is truly disrupting the automotive world.

    Mary Barra at her unveiling of the Bolt EV at CES had to taunt Tesla with her speech. As GM is funding auto dealership associations’ fights with Tesla over direct sales – she asserted that “with some EV manufacturers today, you cannot service the car in the state where you live!” – Gee, Mary – I wonder why!

    But everyone is taking their jab at Tesla and it’s OK, in fact, it’s a sign of great progress.

    Hopefully soon, many of these companies will start making EVs – the more the better!

  14. Nix says:

    Sadly, STILL more credible than VW’s 2020 claims (see next story).

    /sarc

  15. Pushmi-Pullyu says:

    The only thing that all these “We can beat Tesla!” claims really indicate is that everybody recognizes Tesla is the leader in EV tech.

    Otherwise, as they say (even here in Kansas): “I’m from Missouri — Show me!” And I don’t me just show me a painting or computer render, either.

  16. Brave Lil Toaster says:

    In other words, they’re riding their coattails hoping to get some attention and maaaaaybe build a business.

    I wish them luck then!

  17. jim stack says:

    Call me an old fashioned American.
    I’ll stay with Tesla and our model 3 coming later this year.
    Safe
    Quality
    Super Chargers and more Super Chargers.

  18. JIMJFOX says:

    How does economics work for Tesla? A car company that makes negligible profits on tiny sales volumes whose share price is higher than any other? Surely this is Faith-based, a religious belief not based on facts?

    This is NOT Tesla bashing but asking the obvious questions. IF any major problem emerges with the M3 that is not easily fixed, what then?

    Tesla’s future appears to be riding on this one model; some economist recently named the 4 wildly over-valued companies in the US & Tesla was one. If ONE [or more] of these goes belly-up, won’t there be another 2008 crisis?

    1. JIMJFOX says:

      Also, Solar City is looking a very dodgy investment…

  19. Lawrence says:

    Save a buck but get crippled in a collision or have the garage and house catch on fire … I wouldn’t stake my life on cheap Chinese startups.

  20. Imachinesedude says:

    One of my friends was in the shooting crew of Singulato’s product video. He told me one of the wheels came off during the shooting while the car’s running on the open road, so they have to stop. All these Chinese companies had great plans and ambition yet little capability to deliver. Eventually people will see what a sham they are.

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