BYD

Previous rumors suggested that the BYD Seagull was expected to be launched in the second quarter with a price tag of RMB 60,000 to RMB 80,000.

BYD will unveil the premium sub-brand and its logo in the third quarter, and its models are expected to be priced in the range of RMB 800,000 yuan ($119,520) to 1.5 million yuan.

The first model of BYD's premium brand will be a high-end off-road SUV similar to the Mercedes-Benz G-Class, with a launch date of the first half of 2023, local media said.

Seal is expected to become the most important model in BYD's history, with steady-state monthly sales expected to exceed 30,000 units, analysts previously said.

BYD has equipped the Seal with powerful features and offers attractive price tags, making it one of the strongest competitors so far to Tesla's Model 3 in China.

This is the first lithium supply contract BYD has secured after its strategic stake in Shenzhen Chengxin, which is expected to give it a more stable supply of raw material.

Denza announced a few hours after the launch that the D9 MPV received more than 3,000 orders within 30 minutes of the start of pre-sales.

BYD will unveil its CTB (cell to body) battery technology on May 20, and the Seal is expected to be the first model to use the technology.

BYD's share reached 32.2 percent in April, narrowing the gap to 6.1 percentage points from CATL's 38.3 percent share.

The Denza D9 MPV will be available in a pure electric EV version as well as a DM plug-in hybrid version.