Rainbow from Zhido? Hope They Find the Pot 'O Gold

Another Chinese EV startup has popped back from the dead, resurrected by the unstoppable forces of venture capital and, well, the lure of cheap EVs. This time, it's the folks at Zhido who are tempting fate with the new Rainbow mini EV.

Zhido ain't exactly a household name unless your household is knee-deep in the history of China's wild EV market. They were big shots once, back when EVs mostly resembled slightly more spacious golf carts. But, as with all automotive fairytales, reality came knocking. Subsidies dried up, customers wanted a bit more car for their cash, and Zhido went belly-up in 2019. Ouch.

Fast-forward a hair, and like a plucky underdog who refuses to lie down, Zhido is back with the Rainbow. So what's the deal? Well, it's a mini EV, and it's cheap – shocking, I know. Prices start around $4,400, with a limited-time discount (because of course) slashing that to $3,800. Yes - less than $4,000. Even the cheap electric bicycles in America suddenly look overpriced.

But what IS the Zhido Rainbow? Think of a Wuling Hongguang Mini EV that spent a little too much time at the buffet. It's bigger all around, measuring 127 inches long (3,224 mm), 60 inches wide (1,515 mm), and 64 inches tall (1,630 mm). That makes it a smidge larger than the absurdly popular Mini EV in every dimension.

You get several choices for color, which is nice since "Rainbow" might lead you to expect something a little less "beige". Range options are limited to 77 miles, 127 miles (205 km), and 125 miles (201 km) on the CLTC cycle (China's rather optimistic range rating system).

What about power? Well, Zhido doesn't want to make any wild claims, it seems, so details are scant. You get a choice of two electric motors, an underwhelming 27-horsepower unit and a slightly more peppy 40-horsepower version. Batteries are equally modest at around 17 kWh, which is akin to what you'd find in a half-decent plug-in hybrid. So don't expect 0-60 mph times… or 0-30 mph ones, to be honest.

You know what all this translates to? Cheap and cheerful motoring. And by cheap, I mean, if-your-moped-got-hit-by-a-clown-car cheap. Will it be good? Who knows. Will it be safe? You get roughly what you pay for. But, there's something undeniably appealing about the idea of a new car that costs less than a good used bicycle.

Here's where I step in with some words of caution. This ain't no Tesla rival. Zhido has risen from the ashes, but that doesn't mean there isn't still some dust to cough up. I'm interested, for sure, but I'm going to adopt a healthy amount of 'wait and see'. I suggest you do the same. After all, a pot of gold is nice, but those leprechauns can be real tricksters.