According to Reuters, the starting price for the Song Pro DM-i and Qin Plus EV has been set at 99,800 yuan, reflecting discounts of 11.5% and 9.1% from their previous prices. This promotional offer is available until January 26.
As the largest EV seller in China, BYD competes significantly with American EV leader Tesla Inc. Unlike Tesla, however, BYD produces both plug-in hybrid and battery electric vehicles, collectively known as new energy vehicles.
In the final quarter of 2023, BYD achieved sales of 526,409 battery electric vehicles, surpassing Tesla to become the world's leading seller of BEVs. In comparison, Tesla delivered 484,507 units during the same period.
Tesla reclaimed its status as the top seller of BEVs in the first quarter of the following year, with sales of 386,810 units, outpacing BYD by 86,696 units. Tesla maintained its lead in both the second and third quarters.
As the competition intensifies, it remains uncertain who will dominate the fourth quarter, with both companies vying for consumer interest through various promotions. Currently, Tesla is offering a discount of 10,000 yuan on inventory Model Y vehicles in China, its second-largest market after the United States.