Chinese EV giant BYD Co Ltd BYDDY BYDDF started sales of its BYD Song L in China. The SUV, which starts at 189,800 yuan, is up against the much pricier Tesla Inc‘s TSLA Model Y.
What Happened: The Song L launched on Friday to great demand, with the company announcing that it has received 28,350 orders for the car since presales opened on Oct. 31, reported CNEVPost.
It is longer than the Model Y, shorter in terms of height, and cheaper.
The Song L comes in five versions, with the lowest priced Exceed version priced at 189,800 yuan or about $27,000. This is significantly lower than the cheapest version of the Model Y- the rear-wheel drive- which starts at 266,400 yuan or about $38,000.
In fact, even the priciest version of the BYD SUV is priced below the Model Y RWD at 249,800 yuan.
| BYD SONG L VERSIONS | PRICING | MODEL Y VERSIONS | PRICING |
| Exceed Version 550 km | 189,800 yuan | Rear wheel drive | 266,400 yuan |
| Excellence Version 550 km | 199,800 yuan | Long Range | 306,400 yuan |
| Exceed Version 662 km | 209,800 yuan | High Performance | 363,900 yuan |
| Excellence Version 662 km | 229,800 yuan | ||
| Excellence Version 602 km 4WD | 249,800 yuan |
Why It Matters: Late last month, BYD announced that it has built its 6 millionth new energy vehicle. In China, the term NEV refers to electric-powered automobiles, encompassing battery electric vehicles (BEVs), plug-in hybrid electric vehicles (PHEVs), and fuel cell electric vehicles (FCEVs).
The Shenzhen-based company announced that it stopped production of oil-fueled vehicles in April last year. It is backed by Warren Buffett‘s Berkshire Hathaway.
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BYD Photo by A. Aleksandravicius on Shutterstock
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