The Seal is the sixth model has launched in Brazil after the Tang EV, Han EV, Yuan Plus EV, Song Plus DM-i, and Dolphin EV.

(Image credit: BYD)

BYD (OTCMKTS: BYDDY) has launched its battery electric vehicle (BEV) Seal in Brazil, further diversifying its product array there.

The BYD Seal went on sale in Brazil on August 30 at a starting price of 296,800 Brazilian reais ($59,830), marking the first time the model has been available in Latin America, the Chinese new energy vehicle (NEV) maker said today.

The Seal is BYD's EV model based on the e-Platform 3.0 and is the first production vehicle to feature CTB (cell to body) technology, the company said.

The Seal has a WLTC range of up to 520 km and can sprint from 0 to 100 km/h in as fast as 3.8 seconds.

The BYD Seal, which initially went on sale in China on July 29, 2022, is seen as one of the strongest rivals to the Model 3.

On May 10 this year, BYD launched the updated Seal in China at a starting price of RMB 189,800 ($25,980), RMB 23,000 lower than its predecessor's RMB 212,800 starting price.

In Brazil, the Seal is BYD's sixth model for local customers, the previous five being the Tang EV, Han EV, Yuan Plus EV, Song Plus DM-i, and Dolphin EV.

BYD is not only bringing a range of pure electric and hybrid models to the Brazilian market, but will also continue to diversify its sales and service network, with 100 stores expected to be set up by the end of this year, it said.

BYD didn't mention how many stores it currently has in Brazil in today's press release, though it said it had 24 dealer offline stores in the country when it launched the Dolphin there in late June.

BYD also previously announced that it will set up a large manufacturing base complex consisting of three plants in Brazil, with production scheduled to begin in 2025, its press release today mentioned.

BYD and the Brazilian state government of Bahia jointly announced on July 4 that the Chinese NEV maker will set up the complex in Brazil with a total investment of 3 billion reais.

The industrial complex includes a production plant for electric buses and truck chassis, a new energy passenger car production plant, and a processing plant specializing in lithium iron phosphate (LFP) battery materials.

The passenger car production line will be able to produce pure electric models and plug-in hybrids, with a planned annual capacity of 150,000 units, according to a statement in July.

The LFP battery material processing plant will utilize local port resources to meet the growing demand for NEV products in the global market, BYD said.

The industrial complex is scheduled to start production in the second half of 2024 and is expected to create more than 5,000 local jobs, according to a BYD statement at the time.

($1 = 4.9608 Brazilian reais, $1 = RMB 7.3053)

BYD officially launches Seal DM-i in China, priced from $22,830