BYD Revises Seagull Hatchback Pricing as China War Intensifies

BYD Co. set the starting price of its new electric hatchback about 6% lower than initially indicated, as competition for increasingly discerning customers in China shows no sign of abating.

(Bloomberg) — BYD Co. set the starting price of its new electric hatchback about 6% lower than initially indicated, as competition for increasingly discerning customers in China shows no sign of abating.

The base version of the Seagull electric vehicle is listed at 73,800 yuan ($10,660) on the company’s website, while the longer range model costs 89,900 yuan. BYD, China’s leading car brand, had previously said the car would cost 78,800 yuan to 95,800 yuan.

Tesla Inc. initiated an intense price war in China with cuts in late 2022 and earlier this year. BYD’s Seagull is more aligned to competing with EVs such as the Bingo, made by General Motors Co.’s venture with Shanghai Automotive Industry Corp. and Wuling Motors Holdings Ltd., and Leapmotor’s T03.

More stories like this are available on bloomberg.com