According to Electrek, BYD is starting a price war with gasoline-powered cars as cheaper new electric models begin to hit the market. After introducing the new Qin Plus EV Honor Edition on February 19th, BYD announced that they will “officially usher in a new era of electric cars that are cheaper than internal combustion engine cars.”
As such, the company has released the BYD Qin Plus Honor Edition 2024 DM-i plug-in hybrid variant, which comes in 5 versions with prices ranging from CNY 79,800-125,800 (equivalent to $272-428 million). The EV variant also has 5 versions with prices from CNY 109,800-139,800 (equivalent to $374-476 million).
When it first hit the market in March 2021, the BYD Qin Plus DM-i originally had prices ranging from CNY 105,800-145,800. In February 2023, BYD released the Champion Edition of the Qin Plus DM-i with a price equivalent to traditional gasoline-powered cars in order to disrupt the traditional gasoline and diesel market.
The dimensions of the BYD Qin Plus Honor Edition DM-I variant are 4,765×1,837×1,495 mm (slightly larger than the Kia K3 which is 4,640×1,800×1,450 mm), with a wheelbase of 2,718 mm. The EV variant is only different in height at 1,515 mm. It comes with 16 or 17-inch alloy wheels.
The car is equipped with the DM-i plug-in hybrid system, which includes a 1.5-liter 4-cylinder engine and a permanent magnet synchronous motor. It has a continuously variable E-CVT transmission. This variant generates a total output of 179 horsepower and a maximum torque of 316 Nm.
The acceleration time from 0-100 km/h is 7.9 seconds, with a top speed of 185 km/h. Fuel consumption on a mixed route is 2.17 liters/100 km. The pure electric range per full charge according to the NEDC standard is 55 km.
There are 3 more powerful versions with 197 horsepower and 325 Nm of torque. The acceleration time from 0-100 km/h is 7.3 seconds, with a top speed of 185 km/h. Fuel consumption on a mixed route is 1.58 liters/100 km. The pure electric range per full charge is 120 km.
The EV variant is equipped with a single permanent magnet synchronous motor with a maximum power of 136 horsepower and a maximum torque of 180 Nm. It has a 48 kWh and 57.6 kWh battery pack with a full charge range of 420 km and 510 km.
According to market analysts, the launch of the new Honor Edition of BYD signifies the beginning of the car price war in the Year of the Water Dragon 2024. This move by BYD may trigger a chain reaction for all other C-segment car models in the Chinese market.
At the same time, the decisive battle between the BYD Qin Plus and the 3 best-selling traditional competitors in China, Nissan Sylphy, Volkswagen Lavida, and Toyota Corolla, has officially begun. The lowest prices at dealerships for the 3 models under the Nissan, Volkswagen, and Toyota brands are currently CNY 79,800.
In November 2023, BYD had previously reduced the price of the Champion Edition of the Qin Plus by CNY 10,000 for a limited time. This immediately forced Nissan and Toyota to reduce their prices as well.
Reference: Electrek, BYD
