General Motors electric car

The Detroit-based company produced the world’s cheapest electric car, set to launched this week in China

The company’s decision to commercialize the tiny vehicle for just $5.300 comes after GM received national and local subsidies to reduce the greenhouse gas emissions, writes CNN Money.

Prior to granting subsidies, the vehicle’s price was, initially, estimated to $14.000.

The cute car is equipped with two car seats, a 39 horsepower electric motor and it can reach a maximum speed of 100 km/h.

Dubbed by its producers as Baojun E100, the electric vehicle has a 160 kilometers range and it’s specially designed for a crowded city.

The car has a wheelbase of 1.6 meters and a height of 1.67 meters, so it will be perfect for those drivers who plan on slipping quickly through a traffic jam.

The car compensates for its small size through a very hi-tech entertainment system featuring a 7-inch screen and integrated Wi-Fi.

All cars will have parking sensors and an alert system that activates when pedestrians are crossing the street.

More than 5.000 people have already submitted on the waiting list in order to put their hands on a Baojun.

Another 500 cars will be available later this week and the selling process will pretty much base on the “first come, first served” conception, a spokesman for General Motors has revealed.

Initially, the car was supposed to become available only in the Guanxi Province from southern China, but General Motors wants to expand its sales across China if he proceeds are as expected.