The automaker is aggressively discounting nearly every electric and hybrid model in its lineup, aiming to lure customers away from traditional giants like Toyota and Volkswagen. BYD’s extensive price reductions, part of its “electricity is cheaper than oil” campaign, signal a bold move in China’s fierce price war. Over 100 model versions have seen price cuts, with an additional 70 trims relaunched at lower prices. Notably, even its entry-level EV, the Seagull hatchback, now priced at 5% less, challenges the average price of American EVs by over $50,000. The Qin Plus sedan, BYD’s bestseller, sees a 20% price drop, making EVs more accessible to a wider audience. BYD’s strategy targets not only urban buyers but also those in smaller cities and rural areas, threatening competitors slow to embrace EVs. The move reflects a shift in China’s hyper-competitive auto market, prompting industry experts to acknowledge BYD’s aggressive stance as “round 2 of the price war.”
