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Electric cars in China

Under-$5,000 Chinese EV hits speed bump after price hike

Hongguang Mini sales fall for two straight months as competition moves upmarket

Sales of Wuling's Hongguang Mini EV have undershot year-earlier numbers for two consecutive months.   © Reuters
TAKASHI KAWAKAMI, Nikkei staff writer | China

GUANGZHOU -- China's top-selling budget electric vehicle has lost momentum after a cost-driven price increase in a market saturated with new entrants.

The Hongguang Mini EV took the country by storm when it was released in July 2020 by the joint venture SAIC-GM-Wuling Automobile.

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