Updated versions of BYD's Han and Tang are poised to take the price war further into the mid- to high-end EV market.
(Image credit: BYD)
BYD (OTCMKTS: BYDDF) will launch updated versions of the Han and Tang, the flagship models of its Dynasty lineup, in 3 days, in a move that sets to take the price war further into the mid-to-high-end electric vehicle (EV) market.
The launch event for the Glory Edition models of the Han sedan and Tang SUV will begin at 3 pm Beijing time on February 28, BYD announced today on Weibo.
The models will come in new white, purple, and blue exterior options, BYD's poster shows, and hints that they'll be less expensive than their fuel counterparts.
BYD launched its first refresh to its main models a year ago, when it introduced the so-called "Champion Editions", priced at the same level as their fuel counterparts.
It launched the Champion Edition of the Han and Tang on March 17, 2023, with the starting price of the Han lowered by RMB 10,000 ($1,390) to RMB 209,800. The price of the Tang's entry-level model was unchanged at the time, but the prices of the two pricier variants was significantly reduced.
Both the Han and Tang are offered in purely electric EV versions and hybrid DM versions, the latter including a more fuel-economy-oriented DM-i version and a more performance-oriented DM-p version.
The BYD Han EV Champion Edition is currently offered in five versions with starting prices of RMB 209,800, RMB 229,800, RMB 259,800, RMB 279,800 and RMB 299,800.
The Han EV is also available in a limited green edition, a one-option-only model with a starting price of RMB 331,800.
The Han DM-i Champion Edition is currently available in six versions with starting prices of RMB 189,800, RMB 19,800, RMB 209,800, RMB 219,800, RMB 239,800 and RMB 249,800.
The hybrid Han also includes a DM-p Warrior Edition, available in one option only, with a starting price of RMB 289,800.
The Tang EV Champion Edition is currently offered in three versions with starting prices of RMB 249,800, RMB 269,800 and RMB 299,800.
The Tang DM-i Champion Edition is currently available in four versions with starting prices of RMB 209,800, RMB 219,800, RMB 233,800 and RMB 249,800 respectively.
The Tang DM-p Champion Edition is currently available in two options with starting prices of RMB 269,800 and RMB 289,800, while the Tang DM-p Warrior Edition is available in one option only and is currently priced at RMB 309,800.
In its latest round of model updates, BYD named the new models "Glory Editions," saying they will be less expensive than comparable fuel cars.
On February 19, BYD launched the Qin Plus Glory Edition and the Chaser 05 Glory Edition, lowering the starting price of both to RMB 79,800, kicking off a new round of price wars in China's EV market. The two models were previously priced at RMB 99,800 and RMB 101,800 respectively.
A number of car companies, including SAIC-GM-Wuling and Neta Auto, have since followed BYD's move, slashing the prices of some of their models.
On February 23, BYD launched the Dolphin Glory Edition with a starting price of RMB 99,800, which is RMB 17,000, or 14.55 percent, lower than the previous starting price.
BYD saw strong sales growth in 2023, selling 3,024,417 NEVs for the year, an increase of 62.3 percent year-on-year.
In January, BYD sold 201,493 NEVs, up 33.14 percent year-on-year, but 40.92 percent lower than December as seasonal factors affected almost all major Chinese automakers.
($1 = RMB 7.1959)
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