BYD is looking to accelerate the replacement of traditional fuel vehicles with NEVs at lower prices, and more automakers following suit is expected to speed up the process.
(Image credit: SAIC-GM-Wuling)
BYD (OTCMKTS: BYDDF) has launched new variants of its two sedans with lower prices, and now the ripple effects from that move are starting to show.
SAIC-GM-Wuling today added a new version of its Xingguang hybrid sedan with 150 kilometers of CLTC battery range, priced at RMB 99,800 ($13,870), which is RMB 6,000 ($830) less than the previous price for the same range model.
BYD earlier today launched the Qin Plus Glory Edition as well as the Chaser 05 Glory Edition, both with a lower starting price of RMB 79,800 yuan.
While BYD has called the new variants as the Glory Editions, SAIC-GM-Wuling has dubbed its price as the "Glory Price".
"One word, follow!" Zhou Xing, deputy general manager of SAIC-GM-Wuling's brand division, wrote on Weibo, suggesting that the move was to follow BYD.
SAIC-GM-Wuling officially launched the Xingguang sedan on December 6, 2023, with 70km and 150km options in battery range and starting prices of RMB 88,000 and RMB 105,800 respectively.
The company's latest launch today means that the starting price of the Xingguang with a 150 km battery range has been lowered by RMB 6,000, or 5.7 percent.
The Wuling Xingguang is an A-class sedan like the Qin Plus, albeit slightly larger.
The Wuling Xingguang measures 4,835 mm in length, 1,860 mm in width and 1,515 mm in height, and has a wheelbase of 2,800 mm. The hybrid BYD Qin Plus DM-i measures 4,765 mm in length, 1,837 mm in width and 1,495 mm in height, and has a wheelbase of 2,718 mm.
The battery range of the Qin Plus DM-i is available in two options -- 55 kilometers and 120 kilometers -- based on NEDC standards and currently starts at RMB 79,800 and RMB 105,800 respectively.
The Wuling Xingguang sold 18,294 units in its first month of launch and sold 10,005 units in January, according to data previously released by SAIC-GM-Wuling.
BYD's latest move, which drops the price of its hybrid models below that of their fuel counterparts, is the new energy vehicle (NEV) giant's second strong offensive against them.
SAIC-GM-Wuling's quick follow-through means that more automakers are likely to make their NEVs less expensive, potentially accelerating the replacement of traditional gasoline vehicles with NEVs.
SAIC-GM-Wuling is a joint venture between SAIC, General Motors and Liuzhou Wuling Motors, headquartered in Liuzhou, Guangxi Zhuang Autonomous Region, in southwestern China.
SAIC-GM-Wuling is one of the highest-selling car companies in China, with 1.403 million sales of all type of vehicle in 2023, according to figures it released last month.
SAIC-GM-Wuling aims to sell 700,000 NEVs in 2024, the company said on January 23.
($1 = RMB 7.1974)
BYD rolls out new, less expensive variants for 2 NEV models to further undercut fuel cars
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