BYD has launched revamped versions of its flagship sedan and flagship SUV at lower prices compared to their previously available models, as the price war in China’s auto industry intensifies. During an online event on March 16, the company unveiled the 2023 Han EV and 2023 Tang DM-i, both starting at RMB 209,800 ($30,440), which received 8,196 orders on the launch day.
The new 2023 Han EV model, which retains the same dimensions as the previous version, is available in five different versions with starting prices ranging from RMB 209,800 to RMB 299,800. The 715 km version is available in two models, while the least expensive version has a CLTC range of 506 km and a motor with a maximum power of 150 kW.
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On the other hand, the most expensive version has a front motor with 180 kW and 350 Nm of peak torque and a rear motor with 200 kW and 350 Nm of peak torque, and can accelerate from 0 to 100 km/h in just 3.9 seconds. The new Han supports fast charging, taking less than 30 minutes to charge from 30 percent to 80 percent.
The 2023 Tang DM-i, which has the same dimensions as its predecessor, is equipped with a plug-in hybrid system consisting of a 1.5T engine and an electric motor, producing 102 kW of maximum power and 231 Nm of peak torque, and 160 kW of maximum power and 325 Nm of maximum torque, respectively. It is available in three different versions, with starting prices ranging from RMB 209,800 to RMB 233,800, and all three models are powered by a 21.5 kWh blade battery with a battery-powered CLTC range of 112 km.
The previous BYD Han had a starting price range of RMB 219,800-298,800, while the previous BYD Tang DM-i starts at RMB 209,800, RMB 226,800 and RMB 281,800 for its three variants. The downward shift in price range and configuration upgrades are expected to boost BYD’s demand, driving sales to accelerate upward, according to Huaxi Securities analyst Cui Yan’s team in a research note.
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In 2022, the BYD Han family, including the Han EV and the hybrid Han DM series, sold 274,015 units, contributing 14.7 percent of the automaker’s 1,863,494 full-year 2022 new energy vehicle (NEV) sales, while the BYD Tang family models sold 150,832 units, contributing 8 percent of BYD’s NEV sales. With the launch of the new 2023 models at more affordable prices, BYD is poised to continue its success in the NEV market.
