Chinese automaker BYD has launched a bold attack on the traditional gas-powered car market with its latest move. As the world’s leading electric car brand, BYD has introduced the “Glory Edition” versions of its Qin Plus and Chaser 05 sedans, boasting incredibly low starting prices.
Starting at just €10,300 (RMB 79,800), these new electric vehicles significantly undercut their gas-powered counterparts in the compact sedan segment in China. This aggressive pricing strategy could ignite a fierce price war, forcing gas car manufacturers to rethink their pricing strategies.
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This isn’t BYD’s first attempt to grab market share from traditional automakers. Last year, the company made a similar move, and now, with the launch of these affordable electric cars, BYD is sending a clear message to its competitors.
The Qin Plus DM-i Glory Edition, a hybrid model, offers a range of 55 km or 120 km on a single charge, making it ideal for daily commutes. Meanwhile, the battery-powered Qin Plus EV Glory Edition comes in five variants, with prices ranging from RMB 109,800 (€14,210) to RMB 139,800 (€18,100). Despite the lower prices, these models come equipped with advanced features, including the latest conversational virtual assistant.
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Joining the fray is the BYD Chaser 05 Glory Edition, starting at the same low price of €10,300. Available in six trim levels, it also offers electric ranges of 55 km or 120 km, challenging the perception of budget EV capabilities.
BYD’s aggressive pricing strategy is a clear signal of its intent to disrupt the automotive industry in 2024, especially in a market still dominated by gas engines. With BYD setting the stage for a fierce battle, it will be interesting to see how other automakers respond in the “Year of the Dragon.”
