You can't expect too much of an electric violin at that price! - But you can still have some fun with it. And you can replace some details for better ones. You should have a better bow than the companion bow! I also replaced the strings for better ones. I replaced pegs too, to wooden ones, so they would be easier to move and more secure to stay still! (Warning! Adjusting new pegs is not very easy - if you are not skilled at woodworking, you should consider to leave that work to a violin maker.)
Now it's nice!