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Recently, BYD electric car company has launched the 2024 update version of its small electric car, the e2, called the e2 Glory Edition. Notably, the starting price has been reduced to 89,800 RMB, equivalent to 12,500 USD or 308 million VND, down from 102,800 RMB.
The BYD e2 is a model in the Ocean series and was first introduced in 2019. BYD’s other product line is the Dynasty series.
The previous e2 2023 version was launched in April 2023 with two versions starting at 102,800 RMB and 109,800 RMB. Thus, this corresponds to a reduction of 12.65%.
The car operates on BYD’s e-Platform 3.0, running entirely on electricity, and both the latest versions of the car have a 43.2 kWh battery pack, with a range of up to 405 km.
BYD said that the e2 Glory Edition is a pure electric car model designed for family customers, aiming to provide a greener, more efficient, and comfortable travel experience.
The car has a length of 4,260 mm, a width of 1,760 mm, and a height of 1,530 mm, with a wheelbase of 2,610 mm. It is equipped with a single motor with a maximum power of 70 horsepower and a maximum torque of 180 Nm.
Previously, on February 19th, BYD launched a lower-priced version for the Qin Plus and Chaser 05 models, marking the start of a major model update this year.
Up to now, BYD has also released updated versions of Dolphin, Han, Tang, Song Plus, Yuan Plus, Seal DM-i, Song Pro DM-i, and Seagull models, all of which have been priced lower than before. These updates are a part of BYD’s efforts to replace gasoline-powered vehicles with new energy vehicles on a larger scale.
BYD’s core management team recently stated at an internal press conference that the company will mobilize its full strength in technology as well as upstream and downstream industrial chains to carry out a “Liberalization” in the next three years.
In terms of business performance, in the fourth quarter, the Chinese electric car company sold 525,409 electric vehicles, surpassing Tesla’s 484,507 vehicles. As a result, despite both companies achieving record sales in the last three months of the year, Elon Musk lost the throne to the Chinese rival.
However, if we consider the whole year 2023, Tesla still sold more electric vehicles than BYD, excluding hybrid models. Tesla sold 1.8 million electric vehicles, while BYD sold 1.57 million, a 73% increase compared to the same period last year.
According to Fortune, although BYD’s profits cannot yet be compared to Tesla’s and the company’s brand has not gained much recognition outside the Chinese market, the increasing sale numbers are making Elon Musk feel helpless.
