BYD, a leading electric vehicle (EV) manufacturer in China, has pulled the curtains off a new iteration of its top-selling car, aiming to maintain its competitive edge in the fiercely contested global automobile market.
The company’s strategic maneuver involves slashing the launch prices of its vehicle lineup, a tactic mirrored by EV competitors such as Geely Auto and Tesla, all striving to attract customers amidst challenging market conditions.
The latest addition to BYD’s arsenal, the Yuan Plus crossover (internationally known as the Atto 3), comes with a price tag of 119,800 yuan ($16,644), as announced on Weibo by BYD.
This price signifies an 11.8% reduction from the final sales price of its predecessor, reflecting the company’s commitment to offering affordability without compromising quality.
In 2023, BYD witnessed considerable success with the Yuan Plus EV, selling a staggering 412,202 units, with over 100,020 units exported constituting 42% of its total car exports for the year, as per data from the China Association of Automobile Manufacturers.
In a strategic bid to enhance profit margins, BYD has set its sights on overseas markets. Notably, the Atto 3 has made its way to Australia, hitting the market with a starting price of $48,011 ($31,336), showcasing an 85% increase compared to its price in China.
This expansion underscores BYD’s determination to tap into international markets and solidify its position as a global EV powerhouse.
