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BYD launches $15,000 Qin Plus EV Honor Edition kicking off price war with gas cars

BYD is kicking off a price war with gas-powered cars as new lower-priced electric vehicles begin rolling out. After launching the new Qin Plus EV Honor Edition on Monday, BYD said it’s “officially opening a new era of electricity is lower than oil.”

Expanding into new EV segments

After surpassing Tesla to take the top-selling global EV maker title in Q4, BYD is pressing ahead with plans to keep the momentum rolling in 2024.

BYD’s upcoming EV plans leaked earlier this month, showing several new electric models in key segments.

Although BYD is best known for its low-cost EVs, like the Dolphin, Atto 3, and Seal, the automaker has recently expanded into new markets. BYD launched its Yangwang ultra-luxury brand last January with starting prices around $140,000 (1,000,000 RMB).

The luxury brand launched its first vehicle, the U8 off-roader, in September. BYD unveiled the brand’s first ultra-premium sedan, the YangWang U7, last month.

Leaked info from China’s MIIT shows the U7 is loaded with a quad-motor system good for nearly 1,300 hp and 500 mi (800 km) CLTC range.

BYD Yangwang U7 (Source: Yangwang)

The brand will launch its first electric supercar, the Yangwang U9, on February 25, with a 0 to 60 mph sprint in under 2 seconds.

BYD is also launching new mid-size SUVs, including the Sea Lion 07 and Song L, as it looks to expand into the top global markets.

BYD Seal Lion 07 (Source: BYD)

BYD Qin Plus EV at $15K kicks off price war with ICE

BYD launched new versions of two of its sedans today as it looks to continue stealing market share from gas vehicles.

The automaker launched the Qin Plus Honor Edition with three significant refreshes. The DM-i (PHEV) version starts at 79,800 yuan ($11,000) with up to 120 km (74 mi) NEDC all-electric range.

BYD Qin Plus DM-i Honor Edition (Source: BYD)

BYD’s Qin Plus EV version has five models priced between 109,800 RMB to 139,800 RMB ($15,200 to 139,800 RMB ($19,400).

The all-electric version includes an electric motor with up to 134 hp (100 kW) and 132 lb-ft (180 Nm) max torque. It will be offered with either a 48 kWh or 57.6 kWh battery pack for up to 261 mi (420 km) and 316 mi (510 km) CLTC range, respectively.

BYD Qin Plus EV Honor Edition (Source: BYD)

Last year, BYD launched the Qin Plus Champion Edition for the same price as gas-powered vehicles, “directly destroying the moat of joint venture fuel vehicles.”

Top comment by Dan B

Liked by 24 people

I want that car! I want that exact car!! I love the looks and that blue color.

I will admit that I'm not overly happy about China and a lot of things to do with them. However, I stand by my statements from before that if the US brands won't (refuse to) give us EV sedans that the average consumer can afford, then I will go to another brand when the time is right. That absolutely includes from BYD. And yes, I'd love this car.

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At 99,800 RMB ($13,900), the Champion Edition marked the first time BYD’s DM-i model was priced below 100,000 RMB.

Now, the Qin Plus Honor Edition is even cheaper, with the DM-i starting at 79,800 yuan ($11,000) and the EV version starting at 109,800 RMB ($15,200).

BYD is also launching a new Champion Edition Dolphin EV with longer range (up to 323 mi CLTC) and a lower price. The current Dolphin starts at 104,800 yuan ($14,500).

Source: CnEVPost, BYD Weibo

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Avatar for Peter Johnson Peter Johnson

Peter Johnson is covering the auto industry’s step-by-step transformation to electric vehicles. He is an experienced investor, financial writer, and EV enthusiast. His enthusiasm for electric vehicles, primarily Tesla, is a significant reason he pursued a career in investments. If he isn’t telling you about his latest 10K findings, you can find him enjoying the outdoors or exercising

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