BYD is launching another lower-priced electric model. The Chinese automaker introduced the new BYD e2 Honor Edition, starting under $13,000, in its latest move to steal market share from gas-powered cars.
A liberation battle against gas-powered cars
After declaring a “liberation battle” earlier this year, BYD is launching an aggressive campaign aimed at taking market share from ICE vehicles.
BYD kicked off the campaign last month with the new Qin Plus EV, which starts at around $15,000 (109,800 yuan). The company claimed its new EV opened a “new era of electricity is lower than oil.”
The refreshed EV offers a choice of a 48 kWh or 57.6 kWh battery pack and a CLTC range of 261 mi (420 km) or 316 mi (510 km), respectively.
Starting at $11,000 (79,800 yuan), the DM-i (PHEV) version is even cheaper, with up to 74 mi (120 km) NEDC all-electric range. The move comes after BYD introduced its first DM-i model priced below 100,000 yuan ($13,900) last year, claiming it was “directly destroying the moat of joint venture vehicles.”
BYD has since introduced fresh price cuts on several of its best-sellers, including the Atto 3, which now starts at $16,600 (119,800 yuan) in China.
The automaker followed it up with the new Dolphin EV Honor Edition, starting at $13,900.
BYD’s cheapest EV, the Seagull (Dolphin mini), is now even more affordable, starting at $9,700 (69,800 yuan). Now, BYD is launching another, more affordable “Honor Edition” EV.
BYD introduces more affordable e2 Honor Edition
BYD added its latest “Honor Edition” model, the e2, as it continues its “liberation battle” against ICE cars.
The BYD e2 is offered in two trims (comfort and deluxe) with a “shocking” starting price of $12,500 (89,800 yuan). That’s $1,500 cheaper than the previous model.
BYD’s new e2 is based on its e-Platform 3.0, featuring an 8-in-1 electric powertrain. It’s also powered by BYD’s Blade battery with an included heat pump and fast charging capabilities.
The updated electric crossover features several design upgrades, including a closed front grille, sleek headlights, and added air intakes.
At 4,260 mm long, 1,760 mm wide, and 1,530 mm tall, the new BYD e2 is roughly the size of the Volvo EX30 (4,233 mm x L, 1,863 mm x W, 1,555 mm x H).
With a minimalist interior design, the e2 is offered with a new 10.1″ screen in the Comfort trim or a 12.8″ screen in the Luxury model. Both models come with an 8.8″ driver display.
Electrek’s Take
BYD is on a roll with new, more affordable electric models. With almost all vehicle components built in-house, BYD has a major advantage, enabling it to offer lower-priced EVs.
According to a new report, BYD is preparing its new e-Platform 4.0, which will further slash EV costs.
Top comment by Grant
BYD is going to produce the next Civic, Accord, Corolla, Camry of the world. These cheap BYD cars will dominate the markets by numbers very soon. People need affordable transportation and EV's are cheaper to make.
After dominating its home market, BYD is already stealing market share from automakers in key overseas regions. The company is “just getting started in Europe,” with plans to triple its market share by 2025.
Although BYD has no plans to launch passenger EVs in the US, American automakers are taking note of its rapid expansion.
Ford’s CEO Jim Farley said if you fail to keep up with Chinese EV makers, “20% to 30% of your revenue is at risk.” Farley revealed Ford’s plans to launch a low-cost EV platform to prevent falling further behind.
Source: CarNewsChina, BYD Weibo
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