BYD will launch new variants of the Qin Plus and Chaser 05 in Glory Editions on February 20, both starting at RMB 79,800, or $11,100, according to local media.

(Image credit: CnEVPost)

BYD (OTCMKTS: BYDDF) will launch new variants of two of its sedans two days later, aiming to take further share from the traditional fuel car market at lower prices, according to a new report.

BYD will launch new "Glory Edition" variants of the Qin Plus and Chaser 05 on February 20, both priced at RMB 79,800 ($11,100), local automotive media outlet D1EV said in a report today.

The first vehicles of the new variants of both models will be available at BYD dealerships around February 22, the report said, citing a Beijing-based store.

The Qin Plus includes the hybrid Qin Plus DM-i and the all-electric Qin Plus EV, which are currently priced from RMB 99,800 and RMB 129,800 respectively.

The Qin Plus DM-i was originally released in March 2021, when the starting price range was RMB 105,800-145,800 yuan.

In February 2023, BYD launched the Champion Edition of the Qin Plus DM-i, stating that the model was priced at the same level as comparable internal combustion engine (ICE) vehicles, with the aim of disrupting the fuel-vehicle market.

The starting price of the Champion Edition of the Qin Plus DM-i dropped to RMB 99,800, marking the first time that the starting price of a model equipped with the DM-i powertrain has been below RMB 100,000 yuan.

The starting price of the Qin Plus Glory Edition will be further reduced by RMB 20,000, but instead of any reduction in features, two important new features will be added, according to the D1EV.

This means that BYD is about to fire the first shot in the price war of the Year of the Dragon, which is likely to trigger a chain reaction for all relevant models in the A-class market, the report noted.

Meanwhile, the showdown between the Qin Plus and the three traditional hot-selling fuel cars -- the Nissan Sylphy, Volkswagen Lavida and Toyota Corolla -- will officially begin, the report said.

The lowest dealer offer for all three A-class fuel cars is currently RMB 79,800, the report noted.

In November 2023, BYD offered a limited-time discount of RMB 10,000 for the Qin Plus Champion Edition, which then immediately triggered follow-up price cuts for models such as the Sylphy and Corolla, the report said.

The Chaser 05 was initially launched on March 17, 2022, when it was offered at a subsidized starting price of RMB 119,800 yuan.

On April 28, 2023, BYD launched the Chaser 05 Champion Edition, lowering the starting price to RMB 101,800 yuan.

BYD sold 201,493 NEVs in January, including 21,767 of the Qin family and 3,450 of the Chaser 05, according to data compiled by CnEVPost.

($1 = RMB 7.1936)

BYD launches Qin Plus DM-i 2023, aiming to further disrupt conventional fuel car market