The Rising F7 electric car is only $21,000 with a swappable battery
The Rising F7 is a large 5-mile electric sedan with 536hp, 4WD and 666km of battery range for under $21,200! How can there be an electric car with these specifications and at such a competitive price?
Rising Auto belongs to the state-owned company SAIC in China along with other brands such as MG, Roewe and Maxus. Last September, SAIC formed a joint venture with CATL, Shanghai Automobile City and China National Petroleum Corp. to build a national network of stations for battery replacement.
Rising F7 is Rising Auto's second electric car and it's rather big - five meters long. The F7 comes with a battery that can be swapped out within minutes at Rising Power stations across China.
The vehicle comes with a choice of three batteries and two motors. The batteries have a capacity of 64 kWh, 77 kWh, or 90 kWh with a CLTC certified range of 500 km, 576 km, and 666 km respectively.
Customers can choose between a single-engined rear-wheel drive version with 250 kW (335 hp) and 400 Nm of torque, or a dual-wheel drive F7 with 400 kW (536 hp) and 700 Nm of torque. Both cars accelerate from 0 to 100 km/h in 5.7 seconds and 3.7 seconds.
The interior of the Rising F7
Inside, there's a massive 43-inch screen that spans the dashboard rivaling that of the Mercedes-Benz EQE and EQS. The car is powered by Rising OS, an in-house developed operating system powered by the Snapdragon 8155 processor. There are only two physical buttons in the car on the steering wheel, and everything else is operated by touch or voice.
The price of the Rising F7 electric car
The cheapest way to own a Rising F7 is to buy one without the battery. Going for the battery lease option brings the price of the car down to just $21,200. Buying the car with the smallest built-in battery will cost at least $30,490 and the most expensive AWD version with the largest battery comes in at $43,800.
No electric car offers the same performance and specs at this price. Is there a problem with the car?
Yes and no. The battery swap option may be cheap and the monthly rentals affordable, but at the moment there are only 3 swap stations in China. While the battery swap itself apparently only takes 2.5 minutes, it will be some time before there is an affordable swap station.
As for the quality of the car, the answer is no. SAIC is a state-owned company, and it is one of the top 4 auto manufacturers in China, with combined sales of more than 5 million vehicles annually. The company does not need external financing and has sufficient funds to support new brands. Rising Auto may not be turning a profit anytime soon, but in a few years it will have enough battery-swap stations at these prices to fly its cars out of showrooms.