SHANGHAI—A tiny electric vehicle from General Motors Co. with a top speed of 62 miles an hour has zoomed past the Tesla Model 3 to become China’s bestselling EV.
Launched in late July under GM’s local Wuling brand, the Hongguang Mini costs $4,300 and primarily targets consumers in China’s smaller, less affluent cities. The Model 3, which Tesla Inc. started producing in Shanghai last year, costs roughly $37,600 after subsidies and is tilted more toward buyers in China’s wealthy metropolises.
GM’s…
This post first appeared on wsj.com
