BYD&#;s cheapest electric car just got even more affordable. The EV maker is fueling its price war with gas-powered cars with the launch of its newest &#;mini Lamborghini&#; electric car. The BYD Seagull EV Honor Edition starts at $9,700 (69,800 yuan), 5% cheaper than the previous model.
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After surpassing Tesla to become the largest EV maker globally late last year, BYD is carrying the momentum into .
BYD kicked off a price war with gas-powered cars last month with the launch of its Qin Plus EV, starting at $15,200 (109,800). The Chinese automaker said the new EV officially opened &#;a new era of electricity is lower than oil. &#;
The DM-i model (PHEV) is even cheaper, starting at 79,800 yuan ($11,000) with up to 74 mi (120 km) NEDC all-electric range.
The EV version is offered with either a 48 kWh or 57.6 kWh battery pack for up to 261 mi (420 km) or 316 mi (510 km) CLTC range, respectively.
Last year, BYD introduced the Qin Plus Champion Edition (DM-i model) priced below 100,000 yuan ($13,900) for the first time. BYD claimed with the same price as gas-powered cars, the new model was &#;directly destroying the moat of joint venture vehicles.&#;
BYD Dolphin EV Honor Edition (Source: BYD)A few days later, BYD followed it with the new Dolphin EV Honor, starting at $13,900. The new BYD Dolphin features more performance and an improved design at a lower price tag.
Last week, BYD fueled the price war by cutting the prices of its new Tang and Han models. Then, earlier this week, BYD cut the price of its best-selling electric SUV, the Yuan Plus, to $16,600 (119,800 yuan).
BYD new Seagull EV (Source: BYD)BYD introduced the cheaper Seagull EV (Honor Edition) in China Wednesday with a &#;shocking price starting from 69,800 yuan.&#; That&#;s about $9,700 USD.
The new Seagull is available in 30.08 kWh and 38.88 kWh BYD Blade battery packs for 190 mi (305 km) or 252 mi (405 km) CLTC range, respectively.
BYD&#;s new Seagull is available in three trims.
BYD Seagull Honor Edition trimStarting PriceRangeInside, the new EV features a 10.1&#; rotating center infotainment. DiLink&#;s intelligent network connection allows users to interact with the vehicle and play videos.
The new Seagull EV can fast charge from 30% to 80% in 30 mins. According to local reports, BYD&#;s Seagull is being called &#;Lamorghini mini&#; because former Lamborghini designer, Wolfgang Egger led the project.
BYD recently launched the Seagull EV in South America. It will be known overseas as the Dolphin Mini and will have a starting price in Brazil of around $20,000 (99,800 BRL).
BYD is launching an attack on gas-powered vehicles with an EV priced below $10,000. The Seagull (Dolphin mini) is quickly expanding overseas, stealing market share from mass-market automakers like Toyota.
Over 280,000 Seagull EVs were sold in China last year, topping the Dolphin and Yuan Plus (Atto 3). Although this is BYD&#;s cheapest car, it&#;s still a decent EV compared to many low-cost electric cars in China.
BYD&#;s aggressive price cuts are worrying automakers like Ford. Ford&#;s CEO Jim Farley said if you cannot compete with Chinese OEMs, &#;then 20% to 30% of your revenue is at risk.&#;
For this reason, Ford is developing a low-cost EV platform to prevent falling further behind Chinese EV makers and Tesla.
BYD is also expanding into new markets like Luxury and mid-size SUVs. Last month, the automaker introduced its $233,000 (1,680,000 yuan) Yangwang U9 electric supercar with a 0 to 62 mph sprint in 2.36 seconds.
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The launch follows two mid-size electric SUVs, the Sea Lion 07 and Song L, aimed at the best-selling Tesla Model Y.
Source: CarNewsChina, BYD Weibo
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Electric vehicles are too expensive in the West. We know it, dealers know it and carmakers know it. Even the most affordable models are still less affordable than the equivalent combustion-powered car, though Western car brands talk excitedly about how their next-generation EV platforms will bring electric tech to the street for thousands of dollars less than it currently costs. But given recent news from Chinese automaker BYD, that all looks like an exercise in futility.
BYD has made another move in China&#;s price war and has cut the price of its cheapest EV, the Seagull, by 5 percent, bringing the retail cost down to just $9,700. No, we didn&#;t miss a &#;1&#; off the front of that price, BYD really will sell Chinese buyers a brand new EV for less than $10k, Reuters reports. Meanwhile, Stellantis is getting excited at the prospect of putting its Citroen e-C3 and its coming Fiat equivalent to market for $22k, and VW is beavering away on its $26,500 ID.2.
And things look equally bleak when you look at the Seagull&#;s $9,700 sticker in the context of U.S. car prices. The least expensive EV offered in America, the 40 kWh Nissan Leaf, costs $28,140, and even the cheapest car of any type, the ancient Mitsubishi Mirage, which is similar in dimensions to the BYD, comes in at $16,695.
Related: BYD To Finalize Location For Mexican Factory This Year
True, most Americans probably wouldn&#;t want to buy a 74 hp (75 PS) Seagull, much as most don&#;t want a Mirage, but plenty of drivers in Europe and other parts of the world will want one, and they won&#;t care that its battery is small (30 kWh) or uses less exotic sodium-ion tech. They&#;ll be more interested in a genuine useable range of more the 150 miles (240 km).
And stepping back to take a look at the bigger picture, if BYD can afford to sell an EV for less than $10k, it can afford to massively undercut Western rivals when selling the kind of cars that you can&#;t dismiss for being too small, slow, underpowered or badly equipped. Can Western carmakers really compete, or are they the modern equivalent of the British motorcycle industry circa , currently riding high, but about to fall in spectacular style?
Source: Reuters
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