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This electric car is only $4,500 — and it’s outselling Tesla two to one

It may look a little on the boxy side, but the Hong Guang Mini EV, a joint venture between General Motors and China’s state-owned SAIC Motor, is selling incredibly well. In fact, SAIC-GM-Wuling’s offering is currently beating the world’s best selling electric vehicle – the Tesla Model 3 – by nearly two to one in China.

There are a few reasons for its huge popularity, but price is almost certainly the main one. While a Tesla Model 3 will set you back 249,900 yuan (~$36,800) over there thanks to October’s 8% price cut, you could still get eight 28,880 yuan (~$4,500) Hong Guang Mini EVs for that price. Or seven if you push the boat out and opt for the $5,000 version that comes with air conditioning. 

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