In just seven months, the company managed to produce and sell some 127,000 of those tiny EVs.
According to the first media reports from China, the Wuling Hong Guang MINI EV once again increased sales, reaching 35,388 units in December 2020!
The volume of around 127,651 in the past seven months of aggressive ramp up and over 68,000 in the last two months, is truly astonishing.
The company has proven that there is a huge market for entry-level EVs priced at 28,800 yuan ($4,400). However, we don't know whether those prices are possible to maintain. As far as we know, currently the manufacturer is able to profit from EV sales by getting New Energy Vehicle credits.
According to NE-Times (via Moneyball), depending on the version, Hong Guang MINI EV gets 0.54 or 0.87 credits. At high volume of sales, the model not only allowed it to meet the required credit ratios of 12% for the manufacturer, but also to generate surpluses for trade. It's estimated that some 1,000 yuan ($155) per vehicle of additional income can be generated that way. It's comparable to a few percent of margin.
Anyway, the SAIC-GM-Wuling joint venture has closed the year with some 174,005 NEV sales (up 190% year-over-year).
Wuling Hong Guang MINI EV results:
- June: 1,048
- July: 7,348
- August: 9,150 (roughly 15,000 wholesale shipments)
- September: 14,495 (20,150 wholesale shipments)
- October: 20,631 (23,762 wholesale shipments)
- November: 33,094
- December: 35,388
- Total: roughly 127,000
Gallery: Wuling - Hong Guang MINI EV
Wuling - Hong Guang MINI EV specs:
- Two battery/range options
120 km (75 miles) of range using 9.3 kWh battery
170 km (106 miles) of range using 13.9 kWh battery
- top speed of 100 km/h (62 mph)
- electric motor: 20 kW peak and 85 Nm
- 4 seats
- 741 liters of space with the rear seats folded down
- 2,917 millimeters long, 1,493 millimeters wide and 1,621 millimeters high, with a 1,940-millimeter wheelbase