BYD makes its hybrid models less expensive than their petrol counterparts in a strong second offensive against them.
(Image credit: BYD)
BYD (OTCMKTS: BYDDF) launched lower-priced new variants of two of its entry-level sedans to further undercut traditional fuel models.
The NEV (NEV) maker today rolled out the Qin Plus Glory Edition (荣耀版 in Chinese) as well as the Chaser 05 Glory Edition, bringing the starting price down to RMB 79,800 ($11,100) for both A-class sedans.
This is BYD's second strong offensive against traditional fuel models, after it launched the Champion Edition of the Qin Plus DM-i in February 2023, saying at the time that the model was priced at the same level as comparable combustion-engine vehicles with the aim of disrupting the fuel car market.
In its latest offensive, BYD said its EVs are priced lower than fuel cars. "The RMB 79,800 BYD has fuel cars panicking," the company wrote on Weibo.
The Qin Plus includes the hybrid Qin Plus DM-i and the all-electric Qin Plus EV, which start at RMB 79,800 and RMB 109,800 for their glory versions, both RMB 20,000 lower than the previous lowest-priced versions.
BYD is offering five options for the Qin Plus DM-i Glory Edition, with starting prices of RMB 79,800, RMB 95,800, RMB 105,800, RMB 115,800, and RMB 125,800 respectively.
Two of the versions have a battery range of 55 kilometers on NEDC standard and the other three have a battery range of 120 kilometers.
The Qin Plus EV Glory Edition is also available in five options with starting prices of RMB 109,800, RMB 116,800, RMB 119,800, RMB 129,800, and RMB 139,800 respectively.
Two versions of the all-electric sedan have a CLTC range of 420 kilometers, while the other three have a range of 510 kilometers.
Along with the lower price, BYD has brought additional new features to the Qin Plus Glory Edition, including continuous conversations with the virtual voice assistant, and smart switching of the vehicle's electrical system.
The Qin Plus DM-i was initially released in March 2021, when the starting price range was RMB 105,800 - 145,800 yuan.
The Chaser 05 Glory Edition has the same starting price as the Qin Plus DM-i, which is also RMB 79,800.
The Chaser 05 was initially launched on March 17, 2022 at a subsidized starting price of RMB 119,800.
On April 28, 2023, BYD launched the Chaser 05 Champion Edition, lowering the starting price to RMB 101,800 yuan.
The hybrid Chaser 05 Glory Edition is offered in six versions with starting prices of RMB 79,800, RMB 93,800, RMB 99,800, RMB 108,800, RMB 117,800, and RMB 128,800 respectively.
It has a battery range of 55 kilometers for two versions and 120 kilometers for the others.
Yesterday, local media outlet D1EV reported that BYD will launch new variants of the Qin Plus and Chaser 05's Glory Edition on February 20, both with a starting price of RMB 79,800 yuan.
This means that BYD was about to fire the first shot in the price war of the Year of the Dragon, which is likely to trigger a chain reaction of all related models in the A-class market, the report noted.
Meanwhile, the showdown between the Qin Plus and the Nissan Sylphy, Volkswagen Lavida, and Toyota Corolla, three traditionally hot-selling fuel cars, will officially begin, the report said.
($1 = RMB 7.1939)
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