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BYD deepens China price war by cutting cost of its cheapest electric car
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BYD deepens China price war by cutting cost of its cheapest electric car
Mar 5, 2024 9:50 PM

BEIJING, March 6 (Reuters) - Chinese automaker BYD

on Wednesday added fuel to the flames of a brutal

price war in China by cutting the price of its cheapest electric

car, the Seagull, by 5%.

Prices for the Seagull will now start 69,800 yuan ($9,700).

Earlier this week BYD priced the new version of its

best-selling car - the Yuan Plus crossover - known as the Atto 3

in overseas markets - nearly 12% lower than the previous model.

And last month, it offered lower-priced new versions of its

Han sedans and Tang SUVs, and for some other models offered even

bigger discounts than it did in in 2023.

The price war in China, the world's largest auto market,

began at the start of last year with cuts by Tesla and

has only intensified since as automakers strive to win sales

amid a slowing economy.

Over a dozen automakers have this year rolled out fresh

discounts, including Tesla, Geely Auto, GAC

Aion, Leapmotor and Xpeng ( XPEV ).

($1 = 7.1978 yuan)

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