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Chinese automaker rolls out stunningly affordable new model — here are the details

It could shake up the market in a big way.

It could shake up the market in a big way.

Photo Credit: iStock

SGMW has rolled out the Xingguang 730, which is now China's cheapest (and arguably most flexible) multi-purpose vehicle.

CarNewsChina.com reported that the vehicle's biggest asset is how it can be adjusted to fit any driver, with fuel, hybrid, and electric options. SGMW is a Chinese-American joint venture between SAIC Motor, General Motors, and Liuzhou Wuling Motors.

While the Xingguang 730's price hasn't been announced yet, CarNewsChina.com estimated it will start at around $15,000. Wancheng EV Car places its price range around 80,000 to 150,000 yuan (about $11,200 to $21,000).

This car, at least for people in China, could soon be one of the cheapest electric vehicles on the market. And the great thing about EVs becoming cheaper is that they can have an incredibly positive impact on our environment.

EVs can reduce the amount of pollution in our air and are quieter than cars with internal combustion engines. Depending on the model, they can even cost less to insure. They can also save you money on gas as well as maintenance since they don't require oil or fluid changes.

One valid concern about EVs is the negative impact battery production can have on our environment. This and other kinds of low-carbon technology require 7.7 million tons of minerals to be mined each year. 

However, the world already mines 16.5 billion tons of coal, oil, and natural gas each year, which is not only a bigger amount, but the burning of those fuels produces planet-warming emissions that low-carbon technologies do not.

In a Substack post where she presented these numbers, Oxford researcher Hannah Ritchie stated that this "will be a temporary scale-up if we develop affordable methods of recycling [the minerals mined for battery production]."

Finding alternative battery solutions and creating recycling systems will also decrease the amount of mining needed and protect the public's health. For example, while they're not nearly ready for production yet, various researchers are working on sodium-ion batteries for EVs.

If you're looking for an EV or want to make your current one more cost-effective and eco-friendly, you have some options.

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Charging your EV at home can save you a lot of money compared to using public chargers. Qmerit has a free quote tool that can help you find installation estimates for Level 2 EV chargers.

Pairing your charger with solar panels can make your energy more reliable and decrease the environmental impact of your EV. With a free quote tool of its own, EnergySage is the way to go to find vetted installers near you. It can also save you up to $10,000 on installation.

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