GM Scoring Big in Electric Vehicles
GM Has #1 Electric Vehicle in China Source: GM's MINI EV That #1 China EV Seller GM Just Inked a Deal with E-Truck Maker Nikola Two big surprises from GM. Its micro electric vehicle made by GM's Chinese joint venture is the #1 selling electric vehicle in China. It sold 15,000 cars in August beating Tesla's 11,800 Model 3 sedans. Hongguang MINI EV The model is called the Hongguang MINI EV. It's a two-door micro-mini EV that was launched this past July by the joint venture between GM, SAIC Motor Corporation and SGMW. The starting price is very low at $4,200. That price is less than 10% of the cost of Tesla's Model 3. Nikola-GM Deal Meanwhile, Wall Street is cheering news that GM and electric truck startup Nikola will join forces to build electric pickup trucks and commercial trucks powered by fuel cells. Their intent is to compete hard against Tesla's e-trucks. GM has taken an 11% stake in Nikola, which is headquartered in Phoenix, Arizona. The stake is