Tesla Rival BYD Launches $11,000 Long-Range Trim Of Its Best-Selling Seagull EV As Price War Heats Up

BYD Co. Ltd. BYDDY BYDDF has unveiled a new, longer-range trim of the company's best-selling car, the Seagull EV, in China amid the EV price war.

What Happened: The Tesla Inc. TSLA rival unveiled the long-range trim, priced at $11,000 on Monday. The hatchback offers 252 miles of CLTC range on a single charge, with a 38.9 kWh battery pack.

BYD offers the Seagull in 4 trim levels, with the base Vitality trim offered for $7,800 and the range-topping Flying trim available for $11,800. Seagull is also equipped with BYD's God's Eye advanced driver assistance system.

Why It Matters: The news comes in as BYD has been offering aggressive discounts in the highly competitive Chinese auto industry, which is currently grappling with a price war.

BYD also recently released the Seal 06 sedan, priced at $15,000, positioned squarely against the Tesla Model 3, which it undercuts by almost half as the Model 3 retails for around $30,000 in China.

The company has also been expanding its presence in other markets. BYD recently launched the Seagull EV's Euro-spec version, dubbed the Dolphin Surf EV, which is priced at around $26,000 in the region.

Despite the European expansion, the company has had to deal with some issues, with reports suggesting that the company planned to scale down production, which BYD denied.

Xiaomi Corp XIACY also unveiled the company's very first all-electric SUV, the YU7, which goes up against the Tesla Model Y in China.

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