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On October 10th, Mustang officially launched its new energy brand logo, named Xingmang, and plans to launch two pure electric vehicles at the end of November. On November 14, Mustang officially released the official map of its first pure electric car, EK-300, which is named "Star Song" and locates the A0 class three-car electric sedan. According to the plan, the car will be officially launched at the end of this month or early December, and mass production will be carried out in April next year. The new car is based on the Reading i5 and is basically the same except for the logo.

As the first pure electric car under Mustang New Energy, Xingge's appearance is basically the same as that of Reading i5. As can be seen from the official picture, the front face of the car uses a brand new logo with a four-pointed star, which is the brand logo released by Mustang New Energy in October. Officials say this logo will be used in all new energy vehicles launched after Mustang New Energy. In terms of the size of the new car, the length, width and height are 4055/1630/1510mm and the wheelbase is 2400mm.

Comparison between Xingge and the front face of Reading i5

Comparison between Xingyue and Reading i5 side body

The other configuration parameters of the new car have not been officially disclosed, but according to the Ministry of Industry and Information Technology, the new car will be equipped with a permanent magnet synchronous motor with a maximum power of 30kw and a peak torque of 150Nm, a ternary lithium-ion battery and a comprehensive mileage of 255km.

It is understood that the car is mainly aimed at third -, fourth-and fifth-tier cities, and will compete with similar models such as BYD E1 and Changan Mercedes-Benz EV after listing, but from the current known information, Xingge has little advantage.

In addition, the car's comprehensive mileage only 255km is the biggest disadvantage of its competition. In the era when the mileage of pure electric models is often more than 400km, the mileage of 200km has been difficult to meet the needs of consumers, coupled with external reasons, the actual range may not reach 255km.

Therefore, for this upcoming pure electric car, for the first pure electric car of Mustang New Energy, consumers are not optimistic about this car, and they are more likely to make fun of it.

As the first pure electric Mustang, why is Xingyue so similar to Reading i5 in all aspects? In fact, Mustang has something to do with Reading because it has been completely acquired by Reading.

On January 18, 2019, Reading and Mustang announced their strategic restructuring. Reading acquired 100% of the shares of Mustang at a price of about 1.45 billion yuan.

The acquisition surprised the industry. After all, Mustang is ahead of Reading in terms of development history, technical experience and market size. Now, however, Mustang is wholly owned by Reading Motor.

However, the acquisition of Mustang is also a sign. In 2017, Mustang had revenue of 2.046 billion yuan and a net profit loss of 385 million yuan. By the end of October 2018, Mustang had operating income of 662.1 million yuan, net profit loss of 363 million yuan, total assets of 4.545 billion yuan, total debt of 3.834 billion yuan, and a debt ratio of 84.36%.

It has been 30 years since Mustang was born, and it has been deeply cultivated in the field of SUV. At present, it has been laid out in the field of SUV and MPV commercial vehicles. In June this year, Mustang obtained the car production qualification, becoming the only local vehicle manufacturing enterprise in Sichuan Province with complete production qualifications for both new and traditional energy passenger cars and passenger cars.

On the other hand, Reading is a car company specializing in low-speed electric cars, mainly producing low-speed electric vehicles. From the feedback of the domestic market, the sales of Reading cars are not good or bad.

After Reading acquired Mustang, it means that Reading gets a full set of Mustang production qualifications. Reading said that in the future, Reading will create a Mustang brand with a new positioning, so that the old brand coruscate a new vitality. Mustang has also released its 2025 Strategy, which aims to sell more than 150000 vehicles by 2020. By the end of 2021, Mustang will release eight new models, including traditional fuel vehicles and new energy vehicles, including cars, SUV and MPV, all of which will serve the travel needs of third -, fourth-and fifth-tier cities; the goal of selling more than 700000 units by 2025.

It is worth noting that since the decline of new energy subsidies, the development of new energy vehicles has been limited to a certain extent, coupled with the major car brands to speed up the layout of new energy vehicle brands, leading to increased competition in new energy vehicles. At present, domestic well-known new energy automobile companies, such as BYD New Energy and BAIC New Energy, barely pass the development in the environment of the car market. for Mustang New Energy, which has just entered the market, in the environment of depressed car market and strong brand competition, will Mustang New Energy have a chance?

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