Warren Buffett-backed Chinese electric car company BYD on Monday unveiled its DM-i super hybrid technology platform with "ultra-low fuel consumption" and unveiled three new vehicles with this technology: BYD Qin PLUS, Song PLUS DM-i, and Tang DM-i.
All three models are now available for pre-order and will be launched in March.
The Qin PLUS DM-i is positioned as a compact car, and its two models have a pure electric range of 55km and 120km, with a combined range of 1180 km and 1245 km respectively.
The Qin PLUS DM-i is priced at RMB 107,800 and RMB 147,800 and will be launched in early March.
The Song PLUS DM-i is positioned as a wide-body SUV with a pure electric range of 51km and 110km, and a combined range of 1,150km and 1,200km. They are priced at RMB 153,800 and RMB 175,800 and will go on sale in mid-March.
Tang DM-i is positioned as a mid-size 7-seat SUV with a pure electric range of 52km and 112km, and a combined range of 1,010km and 1,050km. They are priced at RMB 197,800 and RMB 224,800 and will go on sale in late March.
BYD's fourth-generation DM technology is divided into two directions. The performance-oriented DM-p technology can achieve 0 to 100 km acceleration time of about 4 seconds. The pursuit of ultimate economy of DM-i can control fuel consumption within 4L/100km.
Zhongtai Securities' Su Chen and Chen Chuanhong believe that these three BYD models will further accelerate the Chinese auto industry's transition to electric, as they are not only comparable in price to comparable gasoline vehicles but also have the low-cost advantage of electric vehicles.
The team believes that due to costs concerns, gasoline cars dominate the mainstream market from RMB 100,000 to RMB 150,000, resulting in a mismatch between supply and demand for electric vehicles in China. the arrival of the Qin PLUS will significantly impact this market.
Starting from 2020, the top-selling EVs including China-made Tesla Model 3 and Wuling Hongguang MINI, opens up the high-end and low-end markets respectively. Zhongtai Securities believes that the models of Tesla Model Y, VW ID.4, BYD DM-i, Changan Huawei, etc. are important to watch in 2021.
Aiming at the most important low and mid-end market, DM-i will open up the space for gasoline vehicle substitution with its differentiation advantage and is expected to lead the acceleration of global electric vehicle penetration.
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