Chinese leading automaker BYD has unveiled a new low-cost electric car in another attempt to snatch market share from combustion engine-powered vehicles in China.
According to Car News China, BYD formally launched the new e2 Honor Edition on March 13 with a base price of just $12,500 (89,800 yuan).
Brief background: BYD initiates a liberation battle
BYD initiated a “liberation battle” earlier this year against ICE-powered vehicles, which remain dominant in the country’s automotive industry due to their more affordable prices than electric vehicles.
In response, BYD launched a campaign last month to match the affordability of ICE-powered cars. The Chinese NEV giant introduced the new Qin Plus EV with a base price of approximately $15,000 (109,800 yuan), which it believes will open a “new era of electricity is lower than oil.” After that, BYD launched the even cheaper DM-i (PHEV) version, which only starts at $11,000 (79,800 yuan).
BYD has also cut the prices of some of its top-selling models, like the Atto 3, now selling at $16,600 (119,800 yuan) in its home market. The Seagull (Dolphin mini) has also become cheaper at $9,700 (69,800 yuan).
After all that, BYD is now intensifying its liberation battle with the introduction of the new Honor Edition EV.
BYD e2 Honor Edition starts at only $12,500
BYD’s new e2 Honor Edition has two trims, Comfort and Luxury. It boasts a base price of just $12,500 (89,800 yuan), a $1,500 price drop from the previous model. The top-tier trim costs $13,400 (96,800 yuan).
This new edition offers notable updates from the previous e2 BYD introduced in April 2023, including an upgraded closed front grille, additional air intakes, and sleek headlights.
It sports a minimalist interior design with a new 10.1″ screen in the Comfort trim and a 12.8″ screen for the Luxury trim. Both trims come standard with an 8.8″ driver display. As for the dimensions, the model has a 4,260 mm length, 1,760 mm width, and 1,530 mm height.
Power and performance
The BYD e2 Honor Edition rides on the e-Platform 3.0, which supports an 8-in-1 electric powertrain. It also utilizes the company’s popular Blade battery with a heat pump and fast charging features. It delivers a CLTC-rated range of 405km.
As for the performance, the e2 is equipped with a permanent magnet synchronous motor that yields a maximum output of 70 kW and 180 Nm maximum torque.
BYD’s strategy of offering lower-cost electric vehicle models is crucial for its efforts to steal market share from gas-powered cars in the Chinese automotive market. It has also started to penetrate the European market, with a target to increase its market share by threefold by 2025.
