(Yicai Global) Oct. 1 -- Shares in auto parts suppliers to SAIC-GM-Wuling Automobile’s little electric vehicle surged today on the news that the Wuling Hongguang Mini EV, which only hit the market in July, was China's best-selling new energy vehicle last month.
Zhejiang Founder Motor [SHE:002196], that supplies the electric motors, hit the exchange-imposed upper limit of 10 percent at CNY7.34 (USD1.11). Avic Jonhon Optronic Technology [SHE:002179], which is the sole supplier of its condensers, air-conditioning and heating fans, shot up 5.29 percent to CNY62.12 (USD9.45) as of 2:30 p.m. China time.
Manufacturer SAIC-GM-Wuling Automobile, a joint venture between Shanghai’s SAIC Motors, the US’s General Motors and Liuzhou, Guangxi province-based Wuling Motors, shipped 33,094 units of the battery-powered tiny car in November, the only NEV to top 30,000 deliveries in a month this year, the JV said today.
The Wuling Hongguang is a two-door, four-seater tin box on wheels that delivers sizeable punch, including speeds of up to 100 kilometers per hour, a battery range of 170 km plus luxuries such as air conditioning and power steering, for a price tag of just CNY28,800 (USD4,380).
Editor: Kim Taylor