A Tesla Rival is Planning to Launch a $7,800 Electric Car in 2018

The model will run on changeable batteries so it will require little wait time to charge, and should run about $7,800. CHJ Automotive, a Chinese startup and rival to Tesla, has become the latest entrant in the race to capture a piece of the electric vehicle (EV) market. CNBC reports, from Co-Founder Kevin Shen, that CHJ is planning to launch two vehicles which are now in development: a hybrid SUV and an ultra-compact car. The ultra-compact car, slated for a March 2018 release, is targeted for the Chinese market.

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