Explaining Why Compact Electric Cars Are Gaining Popularity Worldwide
Compact cars are increasingly favored in many countries due to their practicality and suitability for daily use. Many experts believe that these types of cars will be the future of urban transportation globally.
- Electric car trend with compact models becoming popular worldwide
Compact cars are appearing more and more in major cities around the world. The explanation for this is that experts consider them ideal vehicles to address existing "bottlenecks" in urban traffic.
The resurgence of compact electric cars in Europe
These cars are favored for two main reasons:
Electric cars can meet the demand for reducing greenhouse gas emissions from transportation.
Their small size makes it easy to find suitable parking spaces, as parking areas are gradually narrowing in many areas.
While large, high-powered models are popular in Europe, the prices of such vehicles have increased nearly 15,000 times compared to 10 years ago. Therefore, owning a car becomes a consideration for many families.
In reality, these larger cars are designed for spacious, fast, and long-distance travel. However, most of the time, a car only serves the short-distance travel needs of one person within city limits and at limited speeds. Therefore, compact, affordable, and environmentally-friendly electric cars become a worthwhile consideration for many. Not to mention, these electric models also receive various special incentives from the government.
Compact Electric Cars Gaining Popularity in Europe
Trend of Mini Electric Cars Holds Explosive Potential in Asia
Economic downturns and supply shortages in the automotive industry may slow down the electrification process of vehicles in many Asian countries. However, the electric vehicle market still holds significant potential for development as barriers preventing people from accessing these vehicles are gradually being removed.
Specifically, in developing countries in the Asian region, cost and charging infrastructure are the two main issues in the electrification campaign. Given limited infrastructure, many automakers have focused on introducing compact electric cars with small batteries, translating to reduced costs and shortened charging times. This forms the basis for mini electric cars to become increasingly popular in the market.
In Vietnam, the charging station network for electric vehicles is still quite limited. Therefore, in the electric vehicle race, concentrating on the strategy of developing technology, improving performance, or increasing the range of electric cars may not be as effective as expected. Instead, compact car models will have an advantage in reaching users due to their ability to meet daily commuting needs, along with an affordable price and convenience for home charging.
Currently, many automakers have started to implement strategies for the production and business of mini electric cars in the coming time. The beginning of 2023 witnessed the collaboration between TMT Motors, a Vietnamese manufacturer with nearly 50 years of experience in the commercial vehicle industry, and the joint venture GM (SAIC-WULING) to develop mini electric cars in the Vietnamese marke
Automakers Developing Compact Electric Vehicles for Popularization in Asia
2. Top Popular Compact Electric Cars Worldwide
2.1 Wuling MiniEV
When it comes to small electric cars, one cannot overlook the Wuling HongGuang MiniEV - the TOP 1 in sales in the mini electric car segment for the past 3 years (from 2020 to the end of 2023). Especially, within about 2.5 years since its launch, this car model has achieved a sales volume of around 1 million units in the market - an impressive feat in the automotive market that has surprised many customers.
With its compact, stylish design, just enough convenience, and an affordable price, the car easily captures the hearts of numerous users, especially those living in urban areas. This is also the car model that TMT Motors plans to introduce to the Vietnamese market in the coming time, expected to be available for sale from the second quarter of 2023.
A close look at the Wuling MiniEV soon to be launched in the Vietnamese market
2.2 Seat Mii Electric
This is an all-electric car from the Spanish automaker, notable for its compact design and an impressive range of up to 259 km. In some European markets, the car is priced at around USD 26,000 (equivalent to 610 million VND)
Seat Mii Electric is popular in Europe.
2.3 Kia Soul EV
Among the compact electric car models, the KIA Soul EV stands out for its impressive performance: a top speed of 167 km/h, acceleration from 0 to 100 km/h in 7.5 seconds, and an operating range of approximately 450 km (mixed conditions). In the standard version, in the UK market, the car is priced at £34,295 after government subsidies (around 999 million VND).
Kia Soul EV enjoys impressive sales.
2.4 Renault Zoe
This is a B-segment electric car produced by the French manufacturer Renault and was ranked as the best EV in Europe in 2020. In the improved version introduced in 2019, the car has the ability to cover approximately 395km, a 100kW engine, and standard CCS charging.
The images of the Renault Zoe electric car from France.
2.5 Volkswagen E-UP!
The car is compact in size, designed for 4 seats, and has a range of about 260km. Compared to its competitors in the same segment, the operating capabilities and technical specifications of the Volkswagen E-UP! do not differ much. Essentially, this will be an ideal vehicle for those who want a stable, affordable car mainly for urban commuting. The cost to own the car is approximately £23,650 - £25,105 (equivalent to 689 - 732 million VND)
The Volkswagen E-UP! features a 4-seat design
2.6 Honda E
The Honda E is a B-segment electric car produced by the Japanese automaker for the European and domestic markets. The car has an operating range of approximately 220 km, but what truly captures users' hearts is its enjoyable driving experience. Particularly noteworthy is the car's tight turning radius of only 4.3 meters, providing maneuverability on narrow roads
Honda E offers a comfortable and superior driving experience
With the dynamism of the EV market, the future of compact electric vehicles on many Vietnamese roads looks promising. It all begins with the emergence of the Wuling HongGuang MiniEV electric car, set to be a hot item in the Vietnamese car market in the second quarter of this year - an event eagerly anticipated by many customers.
- Information in this article is for reference only.
