Tesla Roadster is arguably the fastest electric car in the world but Chinese companies are betting their new electric vehicle is "catalyzing a new generation of electric cars", to become the cheapest electric car on the market today.
Great Wall Motor recently debuted the 2019 Ora R1 electric car from its newly launched Electric Vehicle subsidiary. Ora gets four seats with a maximum cruising distance of 351 kilometers and is available at a price of 59,800 to 77,800 yuan or about $8700. Making it the cheapest electric car on the market.
Ora, which stands for 'Open, Reliable, Alternative', according to Great Wall Motors, is named in honor of Swiss mathematician Leonhard Euler. Indeed, it does not offer premium finishes like Tesla's, but the company hopes that compact size and affordable prices will attract the urban youth in China.
Ora will be equipped with an artificial intelligence system that can be activated by saying "Hello, Ora". This tiny electric car will be available in five colors, titanium white, blue cadet, sky blue, a combination of white titanium and black, and a combination of cadets and titanium white.
Along the electric car segment that is gaining significant growth, especially in China, mini electric vehicles are the biggest part of the new energy vehicle market in China. It is proven by selling 400,000 units per year which is the biggest market on Earth.
Not only to just keeping up with market developments, but the Chinese government also requires car manufacturers to make electric vehicles, at least 10 percent of sales and the regulation starts in 2019. Companies in China face pressure to increase sales of electric cars to meet the increasing fuel efficiency requirements every year.
Great Wall Motor announced a partnership with the BMW Group mid last year to produce MINI electric vehicles in China. This collaboration resulted in Spotlight Automotive Ltd, which manufactures electrical components for the Chinese partner brand.
Great Wall Motor ORA R1