© Reuters. A view of the logo of BYD on the BYD Seal at a press day of the Japan Mobility Show 2023 at Tokyo Big Sight in Tokyo, Japan October 25, 2023. REUTERS/Issei Kato/file photo
BEIJING (Reuters) – Chinese electric vehicle giant BYD (SZ:) on Monday launched a new version of its plug-in hybrid sedan Qin Plus DM-i with a lower starting price, doubling down on price cuts to stay competitive in the world’s largest auto market.
The new model goes for a starting price of 79,800 yuan ($11,090), down 20% from the previous version.
The Qin Plus hybrid competes with best-selling gasoline sedans such as Nissan (OTC:)’s Sylphy and VW’s Lavida.
($1 = 7.1953 yuan)