BYD, a renowned Chinese EV manufacturer, is poised to initiate a price war in China aimed at surpassing ICE vehicles as the top sellers in the market. This suggests better times ahead for potential EV buyers. Starting today (February 20th), BYD will introduce new variants of the Qin Plus and Chaser 05 in Glory Editions, both priced at RMB 79,800 or €10,300. This isn’t just a marketing statement; both models will be available at BYD dealerships from February 22nd.
About the BYD Qin Plus and Chaser 05 Glory Edition
The BYD Qin is a well-known model in China, introduced to the market in August 2012. The updated version, the BYD Qin Plus, was launched in 2021 and includes the hybrid Qin Plus DM-i and the all-electric Qin Plus EV, previously priced from €12,860 and €16,700, respectively.
On the other hand, the BYD Chaser 05 was initially launched in March 2022, starting at €15,400. In April 2023, BYD introduced the Chaser 05 Champion Edition, further reducing the price to €13,100. This significant price cut prompted traditional car manufacturers like Toyota and Volkswagen to follow suit. The same scenario is expected again in the following days.
We can only hope that European EV buyers will reap the benefits of this impending price war. Legacy car manufacturers in Europe undoubtedly need stronger competition than they currently face.