Gimme #5! smart launches its largest model

The electric vehicle brand, smart, owned by Mercedes-Benz and Geely, started pre-sales of the #5 SUV in Chinese market on Friday.

With a starting pre-sale price of 245,000 yuan ($34,800), the mid-size pure electric SUV is the largest model released by smart thus far.

Tong Xiangbei, CEO of smart, said that from 2022 to 2025, smart will launch a new model every year, entering niche markets it has not ventured into before. This time, smart launched its first mid-size SUV to broaden drivers' life boundaries.

The model offers eight driving modes and can run up to 740 kilometers on one charge and recharge a range 500 km in 15 minutes.

The model made its world premiere in Australia in late August.

According to Tong, adhering to the development strategy of dual-core in China and Europe, smart is accelerating its global market operations.

The automaker has set up sales outlets in more than 30 countries and regions, including Southeast Asia and the Middle East.

According to Zhang Mingxia, chief marketing officer of smart, the company's initial ideal global sales distribution was 50 percent for China, 40 percent for Europe and 10 percent for other overseas markets. Due to uncertainties, such as anti-subsidy measures and the potential imposition of high tariffs from Europe, the ratio may shift to 6:3:1.

Zhang said smart aims to stabilize its presence in China while adjusting to changes in overseas markets.

Smart's sales target for this year is between 50,000 and 60,000 units. As of the end of August, the #1 and #3 models have sold 13,400 and 4,598 units respectively. The latest model, smart #5, will begin accepting pre-orders by late October, with hopes of boosting year-end performance.