SHANGHAI — BYD has launched 5 lower-priced variations of its Seal sedan, because the Chinese language electrical automobile large seeks to increase its lead on the earth’s largest marketplace for new-energy vehicles.

The worth of the rear-wheel drive Seal Champion Version with a 550-km (342-mile) driving vary, begins at 189,800 yuan ($27,459.09), 10 p.c decrease than a earlier model with the identical driving vary, BYD’s web site confirmed.

That can also be 18 p.c cheaper than the rear-wheel drive model of Tesla’s Mannequin 3 in China with a driving vary of 556 km, in opposition to which the Seal mannequin is competing.

BYD has mentioned it’ll seemingly add the midsize sedan to its European lineup this 12 months. BYD’s present European lineup consists of the Atto 3 compact crossover, the Han midsize sedan and the Tang seven-seater midsize SUV.

The Seal is a 4700 mm lengthy sedan which might slot into BYD’s EV lineup just below the Han.

China’s best-selling electrified automobile maker launched the Seal sedan underneath its Ocean sequence in July 2022 that was designed in a sporty type and outfitted with clever options.

It offered 19,573 Seal vehicles within the first quarter, whereas China gross sales of the Mannequin 3 totaled 42,782 models in the identical interval, confirmed knowledge from China Passenger Automobile Affiliation.

China’s EV market is within the throes of a worth conflict began by Tesla earlier this 12 months, with a number of EV makers together with BYD following the U.S. automaker’s instance by slicing costs for best-selling fashions this 12 months to defend market share.

The EV worth conflict can also be drawing gross sales away from inner combustion engine autos as the value hole between the applied sciences narrows.

BYD has to this point led the brand new vitality automobile (NEV) market with its varied choices of battery-only and plug-in hybrid fashions priced underneath 300,000 yuan.

On the latest Shanghai auto present, it hit headlines by unveiling an electrical hatchback costing half the value of the most affordable NEVs out there elsewhere.

The automaker has handed Germany’s Volkswagen because the best-selling passenger automobile model in China within the final two quarters.

However indicators of weaker demand are additionally showing as BYD lowered shifts at two of its auto meeting crops in latest weeks, Reuters reported in March.