Tata Nano to Get Chinese Competitor
The latest such promise comes from China, where an obscure manufacturer, one of the over 100 active in the Chinese industry, is trying to launch a 20,000 yuan ($2,900) vehicle on the market. The company's name is Zotye Holding Group, the market's name is Zhejiang province and the name of the car is... yet unknown.
According to Gasgoo, Zotye will base its car on the Jiangnan Alto bought by the company in 2007. The following year, the Alto was the third cheapest car in the world, selling for 24,800 yuan ($3,570).
The details regarding the new model are pretty much absent at this point, but most believe the carmaker will turn and use the same engines as on the Alto, or possibly variants of them. The Alto is being offered with a 37 hp 0.8l engine and a 44 hp 1.1l one.
There is still no word on when the future Nano rival (in terms of price at least, because the two aren't on the same market) will become available.
Even if most of us never heard of Zotye Holding Group, the carmaker has achieved a remarkable feat this week: it became the first Chinese carmaker to have sold an electric vehicle to an individual buyer. What, didn't you know Zotye makes EVs too?