BYD, the Chinese automaker, has made a bold move in the electric vehicle (EV) market by slashing the prices of its lineup by up to 20%. This aggressive price reduction is seen as a direct challenge to traditional petrol cars from legacy automakers.

One of the key announcements from BYD is the launch of the 2024 Qin Plus DM-i Honor Edition at a price of 79,800 yuan (11,080 USD), which is 20,000 yuan (2,800 USD) cheaper than the 2023 version. This move positions the Qin Plus DM-i as a formidable competitor to popular models such as the Volkswagen Lavida and the Toyota Corolla.

Notably, the discounted Qin Plus DM-i Honor Edition is priced lower than the base model of the Volkswagen Lavida, which starts at 87,900 yuan (12,200 USD). Similarly, it is on par with the effective selling price of the Toyota Corolla, which has seen significant price adjustments in response to the intense auto price war in China.

The 2024 BYD Qin is a 4-door, 5-seater vehicle with a wheelbase of 2718 mm. It features a 1.5L internal combustion engine (ICE) with an output of 81 kW, along with either a 132 kW or 145 kW electric motor, depending on the trim level. Additionally, BYD has introduced an all-electric variant called the Qin Plus EV Honor Edition, which is priced at 109,800 yuan (15,300 USD) and offers multiple variants with varying battery-only ranges.

BYD’s aggressive pricing strategy is a clear indication of its commitment to gaining a strong foothold in the EV market and challenging the dominance of traditional automakers. With the introduction of competitively priced models like the Qin Plus DM-i Honor Edition and the Qin Plus EV Honor Edition, BYD is poised to shake up the landscape of the Chinese auto industry and further accelerate the adoption of electric vehicles.