China EV war: BYD prices a fifth car below 100,000 yuan threshold as it takes offensive in market-share battle
- Updated e2 compact SUV will start at 89,800 yuan (US$12,507), 12.6 per cent less than the previous price
- BYD has been slashing prices for nearly all of its cars, with rivals including Xpeng, Zeekr and SAIC-GM-Wuling following suit
The compact sport-utility vehicle, with a range of 405 kilometres, becomes the fifth BYD model available for less than the psychologically important threshold price – viewed as affordable even for low-income wage earners in the mainland China market.
“BYD appears to be extremely aggressive in driving a transition from petrol cars to EVs in the country’s automotive industry,” said Eric Han, a senior manager at Suolei, an advisory firm in Shanghai. “The cheap models will also draw middle-income consumers who have become price sensitive amid a bearish economic outlook.”
Among the five models, only the budget Seagull hatchback previously sold for less than 100,000 yuan. BYD marked the entry-level edition of the car down by 4,000 yuan to 69,800 yuan last Wednesday. Price cuts over the past three weeks pushed the basic editions of the other four models – the e2, Qin Plus DM-i plug-in hybrid, Dolphin and Chaser 05 – below 100,000 yuan.
