Tesla Rival BYD Launches $15,000 Seal 06 Sedan As China's EV Price War Heats Up

BYD Co. Ltd. BYDDY BYDDF has launched a $15,000 EV as the electric vehicle price war heats up in the Chinese domestic market.

What Happened: Available in two trim levels, the Seal 06 EV offers a range of 292 miles with the 46 kWh battery pack, while the long-range variant is good for 339 miles on a single charge with a 56 kWh battery pack, the brand revealed on Saturday.

The base trim retails for 109,000 Yuan or just over $15,000 while the top-spec variant comes in at around 129,000 Yuan or almost $18,000.

Interestingly, the base Tesla Inc. TSLA Model 3 costs almost double the price of the Seal 06 EV at 235,500 Yuan.

The vehicle comes equipped with BYD's God's Eye ADAS system. However, it utilizes a camera-based system rather than LiDAR, like some of the pricier models in the BYD lineup.

Why It Matters: BYD has been at the forefront of the Chinese EV price war, which has recently come under scrutiny from the authorities. Without naming any brands, recently, the Chinese Communist Party's (CCP) newspaper, The People’s Daily, slammed the “rat race” in the domestic EV sector.

The brand also introduced its best-selling Seagull hatchback EV in the European market, dubbed the Dolphin Surf EV, for $26,000 as the company overtook Tesla for the first time in regional sales.

BYD is also establishing its presence in Europe with local manufacturing capabilities as the Chinese EV giant's Hungarian plant is under construction. The plant can produce over 200,000 EVs annually.

However, as BYD continues its growth, a major dealer for the company closed down over 20 dealerships in China’s Shandong province, citing changes to the automaker’s dealer policy. The shutdowns have affected over 1,000 customers with warranty and after-sales service woes.

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