Ever since China became a major player on the global auto industry stage, people have been wondering when its vehicles would reach the U.S.There have been delays due to quality issues especially after some well-documented lack of ability to pass stringent U.S. safety tests
But wait a minute! Chinese made electric cars are already here.
Specifically, the car is the Coco. Referred to as a “neighborhood electric vehicle”, the EV speed of 25 miles per hour and can only be driven on roads that have a speed limit of 35 mph and under. It has a price tag of $865 and it is being sold in Oklahoma.
$865? How’d the car’s price get that low? Actually, the value of the car is a whole lot more than that. The actual price of the car is $10,599. But due to state and federal tax credits, buyers of a Coco receive a total rebate of $9734.
Now before you get a plane ticket, note that all those subsidies which make the ridiculously low price of $865 ends when this year ends.