The refreshed BYD e2 starts at RMB 89,800, or $12,500, down from RMB 102,800.
(Image credit: BYD)
BYD (HKG: 1211, OTCMKTS: BYDDY) has updated yet another affordable model, continuing its move after the 2024 Chinese New Year holiday.
The new energy vehicle (NEV) maker today rolled out the updated compact battery electric vehicle (BEV) e2, similar to the model updates over the past month, calling it the e2 Glory Edition.
The BYD e2 Glory Edition is available in two options with starting prices of RMB 89,800 ($12,500) and RMB 96,800 respectively.
This is a reduction of RMB 13,000, or 12.65 percent, from the model's previous starting price of RMB 102,800.
The BYD e2 is a model in the Ocean series and was first available in 2019. BYD's other product array is the Dynasty series.
The previously on-sale 2023 e2 was launched in April 2023, when it was offered in two versions with starting prices of RMB 102,800 and RMB 109,800, respectively.
The model is based on BYD's all-electric e-Platform 3.0, and both of its latest versions have a blade battery pack with 43.2-kWh capacity, and both have a CLTC range of 405 kilometers.
BYD said the e2 Glory Edition is a pure electric vehicle designed for family customers to provide a more stylish, efficient and comfortable green mobility experience.
The model measures 4,260 mm in length, 1,760 mm in width and 1,530 mm in height, with a wheelbase of 2,610 mm.
It is powered by a single motor with a peak power of 70 kW and peak torque of 180 Nm.
BYD said the e2 is the most cost-effective choice for an all-electric model in the RMB 80,000 class, offering a product experience that is difficult to achieve in its price range.
On February 19, 2024, the second working day after the Chinese New Year holiday, BYD launched lower-priced Glory Editions for the Qin Plus as well as the Chaser 05, marking the launch of its latest round of major model updates.
As of now, BYD has also updated the Dolphin, Han, Tang, Song Plus, Yuan Plus, Seal DM-i, Song Pro DM-i, and Seagull, all of which have seen price drops.
This round of model updates seems to be the start of BYD's drive to replace gasoline vehicles with NEVs on a larger scale.
BYD's core management team said at a recent internal communications meeting that the company will mobilize all of its strengths in technology and upstream and downstream industry chains to fight a "liberation battle" in three years, 36kr said in a March 11 report, citing several people familiar with the matter.
In the move, the company will update its DM (Dual Mode) hybrid system, as well as its all-electric platform e-Platform, according to the report.
BYD's biggest goal in its "liberation battle" is to capture more share from the gasoline car market and take NEV penetration to a whole new level in three years, the 36kr report said.
($1 = RMB 7.1855)
