Chinese electric vehicle giant BYD has intensified the ongoing price war in the EV sector by launching new versions of its best-selling cars at significantly lower prices. The company introduced a new version of its popular SUV for $16K to better compete with gas cars, marking a strategic move to boost sales amid a sales slump. This includes the launch of the Yuan Plus crossover, known as the Atto 3 in overseas markets, at a price of $16,644, which is 11.8% lower than its predecessor. The aggressive pricing strategy comes as BYD aims to increase its market share in various global markets, including India, where it recently launched its third electric car. Additionally, BYD has started construction on a manufacturing complex in Brazil, signaling its commitment to expanding its global footprint. This price reduction strategy is not limited to high-end models; BYD also reduced the starting price of its lowest-priced EV model, the Seagull, by 5.4%, bringing its basic price down to 69,800 yuan ($9,697.41).
🚘 The reduction brought the basic price of the affordable Seagull lineup to 69,800 yuan ($9,697.41). https://t.co/Zb81vesFf6
⚠️ CHINA'S BYD LOWERS STARTING PRICE OF ITS LOWEST-PRICED EV MODEL SEAGULL BY 5.4% Full Story → https://t.co/yMS39ChK9G Chinese electric vehicle (EV) giant BYD on Wednesday lowered the starting price on a new version of its lowest-priced EV model Seagull by 5.4% from the… https://t.co/CE4JjPInA7
⚠️ CHINA'S BYD STARTS CONSTRUCTION ON MANUFACTURING COMPLEX IN BRAZIL Full Story → https://t.co/7iLa2KaEi3 Chinese electric vehicle giant BYD has begun construction on a manufacturing complex in Brazil, the company confirmed with Reuters on Wednesday. https://t.co/vivfSiJJJp
China's BYD lowers starting price of its lowest-priced EV model Seagull by 5.4% https://t.co/cDmaFW8ICB https://t.co/QuDNVkT9ZJ
ET NOW Exclusive | China's BYD launches Seal EV starting at ₹41 lakh "We've been the leader in ₹30 lakh+ category and we want to maintain that," says BYD's Sanjay Gopalakrishnan as he shares details of the different variants @joinsumit @BYDGlobal https://t.co/xBqhxnbaTt
Toyota confirms $2 billion investment in Brazil by 2030 https://t.co/JLEwsMAXUN https://t.co/9jjMiIoNCC
🚗 TOYOTA CONFIRMS $2 BILLION INVESTMENT IN BRAZIL BY 2030 Full Story → https://t.co/QfmsCNeJpW Japanese auto maker Toyota officially announced on Tuesday an 11 billion real ($2.22 billion) investment in Brazil, saying it will be made in two parts by 2030, and include the… https://t.co/Qf7ynUj7EL
BYD Co. Ltd. launched its third electric car in India as the Chinese automaker seeks to increase its market share in the country’s budding electric vehicle segment. https://t.co/YYztgKqUTe
BYD launches its third electric car in India as the Chinese carmaker seeks to increase its market share https://t.co/kBwJZbZxnX
China EV shares are feeling the heat as price war concerns grow https://t.co/j3A3x2sHDK
🇨🇳CHINA’S BYD LOWERS PRICE OF NEW EV SUV MODEL 11.8% FROM THE PREVIOUS MODEL Price wars are heating up in the EV market as demand is cooling. Source: Reuters https://t.co/drcDq1vcK7
China EV war: BYD, Xpeng up the ante as they slash prices to arrest sales slump https://t.co/EAvvOecpjf
WATCH: Chinese electric vehicle maker BYD launched a new version of its best-selling car, the Yuan Plus crossover known as the Atto 3 in overseas markets, at $16,644. That is 11.8% lower than the final sales price of the version it has replaced https://t.co/6lS0HjwxYw https://t.co/uIy8udD18J
Last year, He Xiaopeng survived a brutal price war started by Tesla. Now he's betting on international growth to fire up his EV brand, Xpeng. https://t.co/qbPtsEg4sm https://t.co/sKNADdHVvo
Chinese electric vehicle maker BYD launched a new version of its best-selling car, the Yuan Plus crossover known as the Atto 3 in overseas markets, at $16,644. That is 11.8% lower than the final sales price of the version it has replaced https://t.co/joZQXfintH https://t.co/pBl78AiVrP
Fanboys: $TSLA is a high-tech/AI company with stellar margins. Reality: Massive price war in the EV sector in 2024-2025, that’s where Tesla actually makes 90% of its revenue. "BYD slashes price on its best-selling SUV to $16K to compete with gas cars” https://t.co/TXknONXE6B
BYD slashes price on its best-selling SUV to $16K to compete with gas cars https://t.co/JTz8TTHaEs
China EV war: BYD, Xpeng up the ante as they slash prices to arrest sales slump https://t.co/5vdbJ4NVlx via @scmpnews
More price cut by #BYD. BYD on Mon launched a new version of its best-selling car, with price much lower than the previous version. The Wire>> https://t.co/haGgRmRP6L https://t.co/FfmHgY4Uz3
More price cut by #BYD. BYD on Mon launched a new version of its best-selling car, with price much lower than the previous version. https://t.co/haGgRmRP6L https://t.co/FfmHgY4Uz3