Monday, April 22, 2024
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HomeTurbinebdELECTRIC JUXTAPOSITION: TOYOTA VS GM

ELECTRIC JUXTAPOSITION: TOYOTA VS GM

Toyota with the Prius has been one of the industry leaders in the hybrid market, with numerous accolades to confirm its merit and capability. The Prius has long since become a renowned marque in the industry by means of voluminous sales on a global scale. Despite the Prius’ success, Toyota has failed to keep up in the grander scheme of things, to be particular, in the electric market that with time, will inevitably occupy the majority of the automotive market share. This becomes vividly apparent with an observation on the Chinese market, where Toyota is yet to deliver a vehicle as competent as its portfolio would naturally demand.Before moving on to more Toyota specifics, let’s take a better look at the Chinese electric car market, and what exactly has the Japanese giant trumped. A miniature-looking no-frills (i.e, stripped down for optimum cost efficiency) going by the name of the ‘Hong Guang Mini EV’, produced by a General Motors joint venture has the Chinese EV market seized with a nifty price range below $5,000. Yes, you heard it right; General Motors, the same manufacturers that produce gas guzzlers in a nation across the world, have spent $27 billion in plans of introducing 30 electric vehicle models by 2025, according to GM. Clearly, the no-frills approach has worked out ever so favourably for GM, with cost-conscious Chinese customers purchasing over 100,000 Mini EVs per quarter, making it one of the highest selling EVs in China. It has consequently tickled the patriotic pickles of many, seeing it along with other SAIC-GM-Wuling (SGMW) no-frills commercial vans in action on twisty mountain roads. And it continues to occupy an evergrowing spot in the market, attracting young customers who find it to be quirkily fashionable.

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