For a low-priced model like the Nano EV, a 6 percent range is noteworthy for its price-sensitive potential consumers.
(Image credit: SAIC-GM-Wuling)
New energy vehicles (NEVs) in China are generally seeing price hikes following the withdrawal of purchase subsidies, and even the A0-class small cars are no exception.
Information on SAIC-GM-Wuling's website shows that the prices of the two versions of the two-seat-only Nano EV, which went on sale last November, have been revised to RMB 52,800 ($8,300) and RMB 57,800 from February 1.
SAIC-GM-Wuling announced the Nano EV in late September last year and made the model available in late November.
At that time, the company offered three versions, priced at RMB 49,800, RMB 54,800 and RMB 59,800. The version currently priced at RMB 59,800 is no longer available.
This means that the price of the Nano EV has been raised by RMB 3,000, or 6 percent.
Previously, car companies including Tesla, NIO, and XPeng Motors have raised their prices to reflect the reduction in subsidies. However, these models are priced relatively high and the magnitude is not significant in percentage terms.
For a lower-priced model like the Nano EV, the 6 percent range is noteworthy for its price-sensitive potential consumers.
For the price adjustment, 21Jingji today quoted SAIC-GM-Wuling's response that it was due to a 30 percent reduction in China's purchase subsidy for NEVs this year, as well as an increase in the cost of core components, including batteries and motors, due to rising raw material prices.
The Nano EV is a new member of SAIC-GM-Wuling's GSEV (Global Small Electric Vehicle) architecture. According to Wuling, the Nano EV is positioned as a "Couple Car" with a distinctive and nimble shape.
It has a length, width and height of 2,497/1,526/1,616mm, a wheelbase of 1,600mm and an overall mass of 860kg.
In comparison, the Mini EV, Wuling's best-selling electric vehicle, has a length, width and height of 2,917/1,493/1,621mm and a wheelbase of 1,940mm.
Its GSEV series sold more than 750,000 units in 2021, according to data previously released by SAIC-GM-Wuling.
Wuling's new minicar Nano EV goes on sale, prices start at around $7,800