- General Motors Co’s (NYSE:GM) joint venture in China is launching a two-seater convertible electric vehicle, Cabrio, on September 1, 2022, Bloomberg reports.
- The launch follows the joint venture SAIC-GM-Wuling Automobile’s previous offering, Hongguang Mini.
- Cabrio is expected to cost between 100,000 yuan ($14,500) and 200,000 yuan.
- The car will be allotted by a lottery system, the winners of which will be announced later in September.
- The lottery system is due to a small production window of 100 to 200 cars a month.
- Price Action: GM shares closed lower by 0.74% at $39.13 on Tuesday.
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