Buick Electra E5's aggressive pricing in China has garnered a good initial reception.
(Image credit: CnEVPost)
Buick's aggressive pricing for the Electra E5, its first electric model based on GM's Ultium platform, seems to be getting good initial results.
The Electra E5 has already received more than 8,000 orders, Buick announced in a post on its official WeChat account yesterday. This comes just 12 days after the model's official launch in China.
Buick launched the Electra E5 in China on April 13, offering five versions with starting prices of RMB 208,900 ($30,130), 222,900, 225,900, 239,900, and 278,900 respectively.
The Electra E5 is a mid-size five-seat SUV with a length, width and height of 4,892 mm, 1,905 mm and 1,655 mm, respectively, and a wheelbase of 2,954 mm.
The starting price of RMB 208,900 is very aggressive for an electric SUV of that size.
BYD's Tang EV starts at RMB 282,800 and measures 4,900 mm in length, 1,950 mm in width and 1,725 mm in height, with a wheelbase of 2,820 mm.
The Tesla Model Y, the best-selling electric SUV in China, measures 4,750 mm in length, 1,921 mm in width, 1,624 mm in height, and has a wheelbase of 2,890 mm currently starting at RMB 261,900.
Seventy-eight percent of consumers who ordered the Electra E5 chose versions priced at RMB 225,900 and RMB 239,900, Buick said.
The car is available in three range versions with CLTC ranges of 545 km, 603 km and 620 km.
Its highest-priced, with a range of 603 km, is the dual-motor 4WD version, while the other versions are single-motor versions.
The highest range version has a maximum motor power of 150 kW and uses a ternary lithium battery pack with a capacity of 80 kWh.
The Electra E5 four-wheel drive version has a front permanent magnet synchronous motor with a maximum power of 143 kW and a maximum torque of 305 Nm and a rear induction asynchronous motor with a maximum power of 68 kW and a maximum torque of 160 Nm. It is equipped with an 80-kWh ternary lithium battery pack.
Of the consumers who ordered the Electra E5 so far, 42 percent chose the model with a CLTC range of 620 km, according to Buick.
(1 $= RMB 6.9326)