• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar

Stock Trend Alerts

Essential Market Ideas and Investing Strategies

  • Hot Stocks
  • Technology
  • Financial News
  • Crypto
  • Secrets of the Pros
  • Analysis
Home » The Mass Appeal of China’s Ultracheap Electric Vehicles…

The Mass Appeal of China’s Ultracheap Electric Vehicles…

Segment leaders such as Tesla Inc (TSLA), Nio Inc (NIO), and Xpeng Inc (XPEV) may have made their mark on the Chinese consumer, but low-priced EVs are enjoying the mass appeal in the East Asian country.

Huge Customer Base

EVs, such as a $10,000 crossover vehicle made by Hozon Auto, are attracting customers due to lower maintenance costs and a smaller price tag, reported Bloomberg.

“These ultracheap EVs are reaching a new customer in China, as they likely will in other markets as prices come down,” said Siyi Mi, a BloombergNEF analyst.

Widening Choice

Availability of a wider range has the Chinese consumer spoilt for choice. There is the Hozon Auto Neta N01. Also available is the e1 minicar from Berkshire Hathaway (NYSE: BRK-A) (NYSE: BRK-B) CEO Warren Buffett-backed BYD Company Ltd (BYDDF) priced at $8,950 and the Hong Guang Mini, a two-door vehicle available for just $4,230. The Hong Guang Mini, built by Wuling — a joint venture between General Motors Company (GM) and the state-owned SAIC Motor — reported sales in excess of those by Tesla’s Model 3 by two-to-one late last month.

[Wall Street Insider: Why April 30th Could Spark The Greatest “MegaTrend” of The Decade]

Need For Low-Cost EVs Felt Elsewhere

Car prices have outrun wage growth in the United States, which means the lowest-earning fifth of the population needs to spend 30% of their income on transportation costs, according to Bloomberg.

“Taking into account people’s access to transportation, it’s very important to see a greater diversity of models like EVs being offered on the lower end of the price range,” said Selika Talbott, a professorial lecturer and a founding partner of an automotive consultant company, Bloomberg reported. Priced at just under $30,000, the cheapest EV available in the U.S. after subsidies from a major vehicle maker is General Motors Company’s Mini Cooper SE. Some vehicle manufacturers such as ElectraMeccanica Vehicles Corp (SOLO) want to change that by introducing single-person vehicles priced under $20,000.

[Trend Alert: Three of the World’s Richest Billionaires Are Quietly Piling Into THIS]

The Frontrunner On A Backfoot

In February, Tom Zhu, the president of Tesla China, dismissed news that it is working on a $25,000 mass-market vehicle. Previously some media outlets had reported that such a vehicle would have been sold globally.

Xpeng Chairman Brian Gu said last September that the company’s mid-range EVs are already priced around the $25,000 mark.

[See Also: How to Make a Fortune from Tesla’s Secret Supplier]

Read more from Shivdeep Dhaliwal at Benzinga.com

You Might Also Like...

  • The Bullish Side of The Great Supply Chain Snarl
  • Could This Be One of the Best Crypto Buying Opportunities of the Year?
  • Profit from the Global Transition to Electric Vehicles with these 5 Penny Stocks
  • China is Going All In on Electric Vehicles... What it Means for Investors

Reader Interactions

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Primary Sidebar

Subscribe to Stock Trend Alerts

By submitting your email address, you give Stock Trend Alerts permission to deliver investment research to your email inbox. Privacy Policy | How It Works

Popular Posts

  • Bill Bonner Final Prediction: America’s Nightmare Winter
  • What Are Biden Bucks? Jim Rickards Latest Prediction
  • Bonner’s 4th and Final Prediction
  • “Imperium” The Next Intel: The Microchip Company Powering the 199,000% DNA Mega Trend
  • Infinite Energy Stock: The Tiny Company Dominating Tesla in the Trillion-Dollar Green Energy Race
  • Is this “America’s Nightmare Winter”?
  • What is Infinite Energy Software?
  • Forever Battery Stock: The Best EV Stock to Buy as Solid-State Batteries Fuel a 1,500% Surge in EV Sales

Recent Posts

  • Martin Weiss and Sean Brodrick: Stunning Supercycle Investment Predictions
  • Larry Benedict Trading Demo: One Ticker Retirement Plan and Guide to Options
  • Nomi Prins Permanent Distortion: #1 Stock For America’s Last Wealth Transfer Revealed
  • CEO of Biggest PE firm predicts “social unrest”
  • Is this “America’s Nightmare Winter”?

Topics

AAPL Advertorial Altcoins AMZN Artificial Intelligence Battery Bear Market Biotech Bitcoin Blockchain Clean Energy Cloud Computing Coronavirus Creative Cryptocurrency Dividends E-Commerce Electric Vehicles Elon Musk Energy Ethereum Gold GOOGL Inflation Interest Rates International IPO Jeff Brown Market Crash MRNA MSFT NVDA Options Penny Stocks President Biden Real Estate Retirement Semiconductor Solar Supply Chain Tesla The Fed TSLA Volatility Warren Buffett

Copyright © 2022 · Stock Trend Alerts - Essential Market Moves and Investing Ideas

Nothing on this website should be considered personalized financial advice. Any investments recommended here in should be made only after consulting with your personal investment advisor and only after performing your own research and due diligence, including reviewing the prospectus or financial statements of the issuer of any security.

Stock Trend Alerts, its managers, its employees, affiliates and assigns (collectively "The Company") do not make any guarantee or warranty about the advice provided on this website or what is otherwise advertised above.

The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. The Company is not affiliated with, nor does it receive compensation from, any specific security.

To the maximum extent permitted by law, the Company disclaims any and all liability in the event any information, commentary, analysis, opinions, advice and/or recommendations provided herein prove to be inaccurate, incomplete or unreliable, or result in any investment or other losses.

About Us | How it Works | Privacy Policy | Terms and Conditions | Contact Us