Miguel Villagran/Getty Images News
Chinese electric vehicle giant BYD (OTCPK:BYDDF) on Monday launched new, lower-priced variants of its entry-level sedans, the Qin Plus Glory Edition and the Chaser 05 Glory Edition, priced at RMB 79,800 ($11,100) each. The new model marks a 20% reduction compared to its predecessor.
This move is part of BYD’s strategy to undercut traditional fuel models and disrupt the fuel car market.
The new models offer competitive pricing and come with new features, aiming to attract more customers in the EV market.
The Qin Plus hybrid directly competes with popular gasoline sedans like the Nissan’s (OTCPK:NSANY) Sylphy and Volkswagen’s (OTCPK:VWAGY) Lavida, offering a competitive alternative in the market.
Separately, Wuling (OTCPK:WLMTF) has followed BYD’s lead by reducing the price of its hybrid sedan. SAIC-GM-Wuling has introduced a new version of its Xingguang hybrid sedan with an extended battery range of 150 kilometers, priced at RMB 99,800 ($13,870).
This new model is RMB 6,000 ($830) cheaper than the previous version, which offered the same battery range.
