BYD launched the updated Qin Plus sedan on February 19, the first model it's updating in its second offensive against traditional fuel cars.
(Image credit: BYD)
BYD (OTCMKTS: BYDDF) shared order figures for one of its updated models, demonstrating initial acceptance.
The Qin Plus Glory Edition saw 23,590 orders in its first week on the market, the NEV (NEV) maker announced on Weibo today.
BYD didn't share more information, but it re-emphasized in a poster that the model is priced lower than its fuel counterparts.
BYD launched the Glory Edition of the Qin Plus sedan on February 19, including the hybrid Qin Plus DM-i and the all-electric Qin Plus EV, with starting prices of RMB 79,800 ($11,100) and RMB 109,800, respectively, both RMB 20,000 lower than the lowest-priced previous versions.
This is BYD's second strong offensive against traditional fuel models. It launched the Champion version of the Qin Plus DM-i in February 2023, saying the model was priced at the same level as comparable combustion-engine cars, with the aim of disrupting the fuel-vehicle 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 on February 19.
In addition to the Qin Plus Glory Edition, BYD also launched a Glory Edition of the Chaser 05 sedan on February 19, starting at the same price as the Qin Plus DM-I at RMB 79,800, down from RMB 101,800 previously.
BYD has yet to announce the order performance of the Chaser 05 Glory Edition in its first week of launch.
The Qin Plus Glory Edition and Chaser 05 Glory Edition are BYD's first two cards in its latest model refresh. The company launched the Dolphin Glory Edition on February 23 with a starting price of RMB 99,800, a reduction of RMB 17,000, or 14.55 percent, from the previous starting price.
The three Glory Edition models that have been launched are BYD's lower-end cars, and the company is about to make similar updates for its mid- to high-end models.
The launch event for the Glory Edition models of the BYD Han sedan and Tang SUV will begin at 3 pm Beijing time on February 28, BYD announced on Weibo yesterday.
The Han and Tang are the flagship models of BYD's Dynasty lineup, targeting the mainstream mid-to-high-end market between RMB 200,000 and RMB 300,000. Another product array of BYD-branded models is the Ocean series.
While updating its existing models, BYD is also entering the more premium market in an attempt to boost its brand image.
Yesterday, BYD's premium brand Yangwang launched the U9 electric supercar, the second production vehicle from the new brand after the U8 off-road SUV, with a starting price of RMB 1.68 million.
($1 = RMB 7.1982)
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